Document title: State Government Securities - Full Auction Result
Issuing authority: Deputy General Manager, Communications
Reference number: Press Release 2026-2027/1432
Date: November 03, 2026
Capital Markets and Flows
The auction covered a total notified amount of ₹29,900 crore across a wide range of state government securities with tenors from 6 to 26 years. Competitive bidding activity was robust, with the number of competitive bids ranging from 14 to 131 per issue and total competitive bid amounts far exceeding the notified volumes. Cut‑off yields varied between 7.8890% and 8.1713%, while weighted average yields across issues lay between 7.8851% and 8.1705%. Notable allocations include Andhra Pradesh SGS 2035 (7.46%) receiving ₹983.858 crore, Gujarat SGS 2035 (7.96%) receiving ₹1,463.356 crore, Maharashtra SGS 2031 (7.09%) receiving ₹1,497.134 crore, and West Bengal SGS 2041 and 2047 receiving partial allotments of ₹1,504.5 crore and ₹1,601.107 crore respectively. The overall total allotment amount recorded was ₹27,805.607 crore, indicating partial subscriptions in several issues.
Regulatory and Policy Measures
The release notes specific adjustments: Gujarat accepted an additional ₹500 crore in the re‑issue of its 7.96% SGS 2035; Punjab accepted an extra ₹500 crore in the re‑issue of its 7.91% SGS 2041; Maharashtra did not accept any amount in the re‑issue of its 7.70% SGS 2049; and West Bengal accepted partial amounts for its 7.99% SGS 2041 and 7.71% SGS 2047 issues. These adjustments reflect state‑level decisions on debt management and financing needs.
The auction results demonstrate strong market appetite for state government securities, with yields clustered around the high‑7% to low‑8% range and substantial oversubscription in most issues, underscoring the continued relevance of sovereign‑linked instruments in the Indian debt market.