Document title: Result of Yield/Price Based Auction of State Government Securities

Issuing authority: Reserve Bank of India (RBI)

Reference number: Press Release 2026-2027/1470

Date: 09 November 2026

Capital Markets and Flows

The auction targeted a total raise of ₹29,050 crore and attracted bids for ₹27,083.882 crore, indicating near‑full subscription overall.

Assam sought ₹1,000 crore and was fully subscribed at ₹1,000 crore with a cut‑off price of 97.55 (yield 8.0814 %) for the re‑issue of the 7.83 % Assam SGS 2046 issued on 29 April 2026.

Bihar had two tranches: an 18‑year issue of ₹2,000 crore that received ₹1,533.882 crore at a cut‑off yield of 8.10 %; and a 20‑year re‑issue of 7.76 % Bihar SGS 2051 (₹2,000 crore) fully subscribed at a price of 96.56 (yield 8.0816 %).

Chhattisgarh offered a ₹900 crore 7.68 % SGS 2036 (issued 29 April 2026) and a ₹600 crore 7.64 % SGS 2042 (issued 8 July 2026); no bids were received for either tranche.

Gujarat issued two tranches – ₹1,000 crore at a cut‑off yield of 7.82 % for a 10‑year tenor and ₹1,500 crore at 7.97 % for a 13‑year tenor – both fully subscribed.

Haryana presented three tranches: ₹500 crore at 7.61 % for a 4‑year tenor; ₹1,500 crore (re‑issue of 7.90 % SGS 2040 issued 16 Sept 2026) at a price of 98.99 (yield 8.0201 %); and ₹2,000 crore (re‑issue of 7.69 % SGS 2048 issued 27 Aug 2026) at a price of 95.35 (yield 8.1476 %). All were fully subscribed.

Jammu and Kashmir raised ₹1,000 crore, fully subscribed at a cut‑off yield of 8.09 % for a 23‑year tenor.

Kerala’s ₹1,000 crore re‑issue of 7.92 % SGS 2032 (issued 14 Oct 2026) was fully subscribed at a price of 100.50 (yield 7.8109 %).

Mizoram’s ₹100 crore re‑issue of 7.63 % SGS 2041 (issued 19 Aug 2026) was fully subscribed at a price of 96.15 (yield 8.0788 %).

Nagaland raised ₹450 crore, fully subscribed at a cut‑off yield of 8.07 % for a 15‑year tenor.

Odisha’s ₹500 crore re‑issue of 7.64 % SGS 2040 (issued 5 Aug 2026) was fully subscribed at a price of 97.20 (yield 7.9770 %).

Tamil Nadu issued four tranches: ₹2,000 crore at a price of 97.96 (yield 8.0393 %) for the re‑issue of 7.80 % SGS 2041 (issued 3 June 2026); ₹2,500 crore at 100.61 (yield 8.0769 %) for the re‑issue of 8.14 % SGS 2046 (issued 14 Oct 2026); ₹2,500 crore at 101.39 (yield 8.0786 %) for the re‑issue of 8.21 % SGS 2051 (issued 14 Oct 2026); and ₹2,500 crore at 100.81 (yield 8.1067 %) for the re‑issue of 8.18 % SGS 2056 (issued 14 Oct 2026). All were fully subscribed.

Uttar Pradesh raised ₹1,500 crore, fully subscribed at a price of 100.91 (yield 7.9889 %) for the re‑issue of 8.11 % Uttar Pradesh SGS.

In total, the auction attracted ₹27,083.882 crore against a target of ₹29,050 crore, with cut‑off yields ranging from 7.61 % to 8.1476 % across tenors of 4 to 23 years, reflecting robust investor demand for state government securities.