Document title: State Government Securities Full Auction Result; Issuing authority: Deputy General Manager, Communications; Reference: Press Release 2026-2027/1260; Date: 06 October 2026.
Capital Markets and Flows
The auction covered a wide range of state government securities issued in 2026, with a cumulative notified amount of ₹25,100 crore. Andhra Pradesh SGS 2035 (₹1,000 crore, re‑issue of 7.46 % issued 12‑Aug‑2026) attracted 54 competitive bids totalling ₹2,195 crore; the cut‑off yield was 7.9197 % at a price of 97.10, 20 bids were accepted for ₹972.648 crore, partial allotment was 4.6844 % across 4 bids, and non‑competitive bids numbered 7 for ₹27.352 crore at 97.28, with a weighted average yield of 7.8905 % and a total allotment of ₹1,000 crore. Andhra Pradesh SGS 2042 (₹1,000 crore, re‑issue of 7.79 % issued 22‑Apr‑2026) received 70 competitive bids amounting to ₹3,390 crore; the cut‑off yield was 7.9971 % at 98.17, 4 bids were accepted for ₹949.461 crore, partial allotment stood at 80.8111 % across 2 bids, non‑competitive bids were 9 for ₹50.539 crore at 98.20, weighted average yield was 7.9937 % and total allotment ₹1,000 crore. Delhi SGS 2033 (₹500 crore, re‑issue of 7.31 % issued 22‑Jul‑2026) received 49 competitive bids totalling ₹2,500 crore but no allotment was made; non‑competitive bids were 5 for ₹6.701 crore. Delhi SGS 2041 (₹500 crore, re‑issue of 7.75 % issued 24‑Jun‑2026) attracted 50 competitive bids for ₹2,615 crore with zero allotment; non‑competitive bids were 5 for ₹11.192 crore. An 8‑year issue of ₹200 crore (cut‑off yield 7.85 % at price 100) received 6 competitive bids for ₹310 crore, one bid was accepted for ₹192.150 crore (partial allotment 96.0750 %), and 6 non‑competitive bids for ₹7.85 crore at price 100, yielding a weighted average of 7.8500 % and full allotment of ₹200 crore. A Himachal Pradesh re‑issue of 7.78 % (₹600 crore, issued 24‑Jun‑2026) saw 53 competitive bids totalling ₹2,325 crore, cut‑off yield 8.0061 % at 97.86, 4 bids accepted for ₹584.975 crore (partial allotment 91.6583 %), 5 non‑competitive bids for ₹15.025 crore at 97.89, weighted average yield 8.0029 % and total allotment ₹600 crore. A 25‑year issue of ₹800 crore received 27 competitive bids for ₹1,720 crore, cut‑off yield 8.01 % at price 100, 6 bids accepted for ₹774.862 crore (partial allotment 68.5733 %), 6 non‑competitive bids for ₹25.138 crore at 100.17, weighted average yield 7.9945 % and full allotment ₹800 crore. Madhya Pradesh SGS 2036 (₹1,000 crore, 10‑year) attracted 85 competitive bids for ₹5,195 crore, cut‑off yield 7.91 % at 100, 16 bids accepted for ₹900 crore (partial allotment 82 %), 17 non‑competitive bids for ₹164.638 crore at 100.10, weighted average yield 7.8958 % and total allotment ₹1,000 crore. Madhya Pradesh SGS 2044 (₹1,000 crore, re‑issue of 7.61 % issued 08‑Jul‑2026) received 76 competitive bids for ₹3,737 crore, cut‑off yield 7.9877 % at 96.43, 3 bids accepted for ₹938.970 crore (partial allotment 67.5339 %), 11 non‑competitive bids for ₹61.030 crore at 96.45, weighted average yield 7.9855 % and total allotment ₹1,000 crore. Madhya Pradesh SGS 2056 (₹1,000 crore, re‑issue of 7.75 % issued 02‑Sep‑2026) saw 20 competitive bids for ₹3,720 crore, cut‑off yield 7.9794 % at 97.39, 7 bids accepted for ₹989.930 crore (partial allotment 21.9342 %), 3 non‑competitive bids for ₹10.070 crore at 97.57, weighted average yield 7.9632 % and total allotment ₹1,000 crore. Maharashtra SGS 2031 (₹1,500 crore, re‑issue of 7.09 % issued 27‑Aug‑2026) attracted 77 competitive bids for ₹3,330 crore, cut‑off yield 7.6297 % at 97.82, 28 bids accepted for ₹1,482.194 crore (partial allotment 22.4733 %), 4 non‑competitive bids for ₹17.806 crore at 97.92, weighted average yield 7.6045 % and total allotment ₹1,500 crore. Maharashtra SGS 2039 (₹1,500 crore, re‑issue of 7.63 % issued 27‑Aug‑2026) received 117 competitive bids for ₹6,330 crore, cut‑off yield 7.9788 % at 97.21, 29 bids accepted for ₹1,358.240 crore (partial allotment 39.8146 %), 19 non‑competitive bids for ₹141.760 crore at 97.40, weighted average yield 7.9546 % and total allotment ₹1,500 crore. Maharashtra SGS 2043 (₹2,000 crore, 17‑year) saw 90 competitive bids for ₹4,865 crore, cut‑off yield 8.01 % at 100, 24 bids accepted for ₹1,837.896 crore (partial allotment 9.6175 %), 10 non‑competitive bids for ₹162.104 crore at 100.18, weighted average yield 7.9901 % and total allotment ₹2,000 crore. Maharashtra SGS 2049 (₹2,200 crore, re‑issue of 7.70 % issued 27‑Aug‑2026) attracted 54 competitive bids for ₹5,809.131 crore, cut‑off yield 7.9921 % at 96.94, 13 bids accepted for ₹2,184.204 crore (partial allotment 39.6184 %), 5 non‑competitive bids for ₹15.796 crore at 97.01, weighted average yield 7.9852 % and total allotment ₹2,200 crore. Meghalaya SGS 2039 (₹400 crore, 13‑year) received 35 competitive bids for ₹1,170 crore, cut‑off yield 8.08 % at 100, 23 bids accepted for ₹360.309 crore (partial allotment 14.4329 %), 8 non‑competitive bids for ₹39.691 crore at 100.29, weighted average yield 8.0438 % and total allotment ₹400 crore. Additional issues dated 2026 and May/Sept 2026 recorded competitive bids of 46, 102, 88 and 19 respectively, with total bid amounts of ₹1,570.5 crore, ₹4,920 crore (cut‑off yield 8.0183 % at 99.06, 10 accepted bids for ₹900 crore), ₹4,950 crore (cut‑off yield 8.0079 % at 98.81, 14 accepted bids for ₹990 crore) and ₹1,585 crore (cut‑off yield 8.0157 % at 97.37, 10 accepted bids for ₹783.972 crore). Non‑competitive bids for these issues ranged from 1 to 25 bids with amounts between ₹1 and ₹155.437 crore and prices around 99‑100, yielding weighted average yields of 8.0137 %, 7.9973 % and 7.9888 % respectively.
Telangana SGS 2046 (₹1,000 crore, 20‑year) recorded 44 competitive bids for ₹2,035 crore, cut‑off yield 8.03 % at 100, 20 accepted bids for ₹900 crore (partial allotment 36.3636 %), 11 non‑competitive bids for ₹108.574 crore at 100.39, weighted average yield 7.9902 % and total allotment ₹1,000 crore. Telangana SGS 2052 (₹1,500 crore, 26‑year) attracted 27 competitive bids for ₹2,435 crore, cut‑off yield 8.02 % at 100, 7 accepted bids for ₹1,439.021 crore (partial allotment 33.7334 %), 7 non‑competitive bids for ₹60.979 crore at 100.36, weighted average yield 7.9870 % and total allotment ₹1,500 crore. West Bengal SGS 2035 (₹500 crore, re‑issue of 7.58 % issued 22‑Jul‑2026) saw 48 competitive bids for ₹2,570 crore, cut‑off yield 7.9278 % at 97.81, 9 accepted bids for ₹485.529 crore (partial allotment 25.2645 %), 4 non‑competitive bids for ₹14.471 crore at 97.89, weighted average yield 7.9148 % and total allotment ₹500 crore. West Bengal SGS 2041 (₹1,000 crore, 15‑year) received 96 competitive bids for ₹5,939.5 crore, cut‑off yield 7.99 % at 100, 8 accepted bids for ₹900 crore (partial allotment 25.3529 %), 24 non‑competitive bids for ₹242.461 crore at 100.08, weighted average yield 7.9809 % and total allotment ₹1,000 crore. West Bengal SGS 2047 (₹500 crore, re‑issue of 7.71 % issued 22‑Jul‑2026) attracted 40 competitive bids for ₹1,075 crore, cut‑off yield 8.0671 % at 96.41, 23 accepted bids for ₹499.994 crore (partial allotment 22.8554 %), 2 non‑competitive bids for ₹0.006 crore at 96.89, weighted average yield 8.0179 % and total allotment ₹500 crore.
Overall, the auction resulted in a total notified amount of ₹25,100 crore, with cut‑off yields spanning 7.63 % to 8.07 % and weighted average yields clustering around 7.9 % to 8.0 %. While most issues achieved full or substantial allotments, the Delhi and Punjab re‑issues recorded zero acceptance despite receiving competitive bids. This comprehensive result reflects robust demand across state securities, varied tenor structures, and a broadly consistent yield environment.