Document Title: State Government Securities - Full Auction Result
Issuing Authority: Press Release (Deputy General Manager, Communications)
Reference No.: 2026-2027/1166
Date: 22 September 2026
Capital Markets and Flows
On 22 September 2026 a full‑scale auction of State Government Securities (SGS) was conducted covering thirteen issues issued by six states – Andhra Pradesh, Goa, Gujarat, Jammu & Kashmir, Maharashtra, Punjab, Rajasthan and a combined Rajasthan issue. The aggregate notified amount was ₹16,750 crore.
Andhra Pradesh SGS 2039 (7.56% coupon, issued 01‑Jul‑2026) – Notified ₹1,000 crore. Competitive bids: 87 bids totalling ₹4,080 crore; cut‑off yield 7.8793% and price 97.44. Fifteen bids (₹936.760 crore) were accepted, representing a 66.76% partial allotment. Non‑competitive: 10 bids for ₹63.240 crore at price 97.55, fully allotted. Weighted average yield 7.8652%. Total allotment matched the notified ₹1,000 crore.
Andhra Pradesh SGS 2051 (7.68% coupon, issued 29‑Jul‑2026) – Notified ₹1,600 crore. Competitive bids: 40 bids totalling ₹4,295 crore; cut‑off yield 7.8874% and price 97.74. Seven bids (₹1,562.727 crore) were accepted, a partial allotment of 8.36%. Non‑competitive: 4 bids for ₹37.273 crore at price 97.79, fully allotted. Weighted average yield 7.8827%. Total allotment ₹1,600 crore.
Goa SGS 2041 (15‑year tenor) – Notified ₹150 crore. Competitive bids: 32 bids totalling ₹1,150 crore; cut‑off yield 7.88% and price 100. Three bids (₹136.753 crore) were accepted, 71.98% partial allotment. Non‑competitive: 8 bids for ₹13.247 crore at price 100, fully allotted. Weighted average yield 7.8800%. Total allotment ₹150 crore.
Gujarat SGS 2036 (7.47% coupon, issued 27‑Aug‑2026) – Notified ₹1,000 crore. Competitive bids: 83 bids totalling ₹4,180 crore; cut‑off yield 7.7244% and price 98.25. Twenty‑five bids (₹951.172 crore) were accepted, 84.69% partial allotment. Non‑competitive: 7 bids for ₹48.828 crore at price 98.33, fully allotted. Weighted average yield 7.7126%. Total allotment ₹1,000 crore.
Gujarat SGS 2041 (re‑issue of 7.59% coupon) – Notified ₹1,000 crore. Competitive bids: 95 bids totalling ₹4,075 crore; cut‑off yield 7.8300% and price 97.90. Nineteen bids (₹914.650 crore) accepted, 15.61% partial allotment. Non‑competitive: 10 bids for ₹85.350 crore at price 98.02, fully allotted. Weighted average yield 7.8160%. Total allotment ₹1,000 crore.
Jammu & Kashmir SGS 2044 (7.75% coupon, issued 09‑Sep‑2026) – Notified ₹600 crore. Competitive bids: 87 bids totalling ₹4,220 crore; cut‑off yield 7.8987% and price 98.58. Three bids (₹551.058 crore) accepted, 82.02% partial allotment. Non‑competitive: 8 bids for ₹48.942 crore at price 98.61, fully allotted. Weighted average yield 7.8955%. Total allotment ₹600 crore.
Maharashtra SGS 2031 (7.09% coupon, issued 27‑Aug‑2026) – Notified ₹1,000 crore. Competitive bids: 81 bids totalling ₹4,781 crore; cut‑off yield 7.3286% and price 99.02. Ten bids (₹979.654 crore) accepted, 65.73% partial allotment. Non‑competitive: 4 bids for ₹20.346 crore at price 99.07, fully allotted. Weighted average yield 7.3163%. Total allotment ₹1,000 crore.
Maharashtra SGS 2039 (7.63% coupon, issued 27‑Aug‑2026) – Notified ₹1,000 crore (part of a larger ₹10,848.832 crore competitive pool). Competitive bids: 10848.832 crore received; cut‑off yield not separately listed; weighted average yield 7.7126% (as per Gujarat table). Partial allotment percentage 84.6880% for competitive bids. Non‑competitive: 7 bids for ₹48.828 crore at price 98.33, fully allotted. Total allotment ₹1,000 crore.
Maharashtra SGS 2049 (7.70% coupon, issued 27‑Aug‑2026) – Notified ₹1,600 crore. Competitive bids: 69 bids totalling ₹4,879.131 crore; cut‑off yield 7.8776% and price 98.12. Seven bids (₹1,510.849 crore) accepted, 55.15% partial allotment. Non‑competitive: 7 bids for ₹89.151 crore at price 98.17, fully allotted. Weighted average yield 7.8728%. Total allotment ₹1,600 crore.
Punjab SGS 2031 (5‑year tenor) – Notified ₹500 crore. Competitive bids: 59 bids totalling ₹2,098.500 crore; cut‑off yield 7.54% and price 100. Thirteen bids (₹475.792 crore) accepted, 96.62% partial allotment. Non‑competitive: 6 bids for ₹24.208 crore at price 100.10, fully allotted. Weighted average yield 7.5158%. Total allotment ₹500 crore.
Punjab SGS 2041 (15‑year tenor) – Notified ₹1,500 crore. Competitive bids: 139 bids totalling ₹8,533.520 crore; cut‑off yield 7.91% and price 100. Ten bids (₹1,350 crore) accepted, 57.53% partial allotment. Non‑competitive: 19 bids for ₹262.186 crore at price 100.16, partially allotted (₹150 crore). Weighted average yield 7.8920%. Total allotment ₹1,500 crore.
Rajasthan SGS 2044 (7.68% coupon, issued 29‑Jul‑2026) – Notified ₹2,200 crore. Competitive bids: 115 bids totalling ₹6,565 crore; cut‑off yield 7.9052% and price 97.85. Nine bids (₹1,999.259 crore) accepted, 75.70% partial allotment. Non‑competitive: 12 bids for ₹200.741 crore at price 97.91, fully allotted. Weighted average yield 7.8987%. Total allotment ₹2,200 crore.
Rajasthan SGS 2053 (7.65% coupon, issued 01‑Jul‑2026) – Notified ₹2,200 crore (part of total ₹16,750 crore). Competitive bids: 41 bids totalling ₹5,800 crore; cut‑off yield 7.8820% and price 97.41. Seven bids (₹2,177.944 crore) accepted, 29.20% partial allotment. Non‑competitive: 3 bids for ₹22.056 crore at price 97.47, fully allotted. Weighted average yield 7.8765%. Total allotment ₹2,200 crore.
Across all issues, the aggregate competitive bid amount was ₹65,505.983 crore, while non‑competitive bids summed to approximately ₹2,103.916 crore. The weighted average yields for the auctioned securities ranged from 7.71% to 7.88%, reflecting prevailing market conditions for state‑issued debt. All notified amounts were fully allotted, indicating strong investor demand for state government securities.