Document title, issuing authority, reference number, and date

State Government Securities – Full Auction Result, Reserve Bank of India, Press Release: 2026-2027/1393, 27 October 2026.

Capital markets and flows

The Reserve Bank of India announced the complete auction outcomes for a series of State Government Securities (SGS) issued by multiple Indian states. The aggregate notified amount across all issues was ₹23,300 crore. The total amount allotted to successful bidders summed to ₹18,963.348 crore, reflecting a weighted average yield spectrum of 8.14 % to 8.28 %.

Assam SGS 2035 (9‑year)

  • Notified amount: ₹1,000 cr; cut‑off yield 8.15 %; cut‑off price ₹100.
  • Competitive bids: 58 bids totalling ₹2,405 cr; 10 bids accepted for ₹525 cr.
  • Partial allotment of competitive bids: 93.1187 % (6 bids).
  • Non‑competitive bids: 13 bids totalling ₹81.733 cr accepted at ₹100.03.
  • Weighted average yield: 8.1457 %.
  • Total allotment: ₹606.733 cr (partial acceptance noted).

Bihar SGS 2035 (9‑year) and SGS 2041 (Re‑issue 7.66 %)

  • Notified amounts: ₹1,000 cr each.
  • SGS 2035: cut‑off yield 8.18 %; total allotment ₹1,000 cr (full).
  • SGS 2041: cut‑off yield 8.2811 %; competitive bids 96 (₹4,589.15 cr) with 20 accepted for ₹1,951.802 cr; partial competitive allotment 33.04 % (1 bid).
  • Non‑competitive bids: 5 bids totalling ₹48.198 cr accepted at ₹94.95.
  • Weighted average yields: 8.1562 % (2035) and 8.2564 % (2041).

Chhattisgarh SGS 2040 (Re‑issue 7.83 %) and SGS 2048 (Re‑issue 7.82 %)

  • Notified amounts: ₹600 cr each.
  • SGS 2040: cut‑off yield 8.2498 %; 55 competitive bids (₹2,447 cr) with 10 accepted for ₹582.934 cr; partial competitive allotment 15.3498 % (5 bids).
  • SGS 2048: cut‑off yield 8.2462 %; 45 competitive bids (₹2,170 cr) with 1 accepted for ₹587.530 cr; partial competitive allotment 97.9217 % (1 bid).
  • Weighted average yields: 8.2269 % (2040) and 8.2462 % (2048).
  • Total allotments: ₹600 cr each.

Gujarat SGS 2035 (Re‑issue 7.96 %) and SGS 2038 (Re‑issue 8.06 %)

  • Notified amounts: ₹1,000 cr each.
  • No competitive or non‑competitive bids were accepted for either issue; total allotment recorded as ₹0 cr.
  • Footnote indicates Gujarat did not accept any amount for these re‑issues.

Himachal Pradesh SGS 2049 (Re‑issue 7.77 %)

  • Notified amount: ₹400 cr; cut‑off yield 8.2487 %; 40 competitive bids (₹2,015 cr) with 1 accepted for ₹398.950 cr; partial competitive allotment 99.7375 % (1 bid).
  • Non‑competitive bids: 2 bids totalling ₹1.050 cr accepted at ₹95.11.
  • Weighted average yield: 8.2487 %.
  • Total allotment: ₹400 cr.

Jharkhand SGS 2033 (Re‑issue 7.30 %)

  • Notified amount: ₹200 cr; no competitive bids accepted; total allotment ₹0 cr.
  • Footnote confirms Jharkhand did not accept any amount.

Kerala SGS 2040 (14‑year)

  • Notified amount: ₹1,500 cr; no competitive bids accepted; total allotment ₹0 cr.
  • Footnote notes Kerala did not accept any amount.

Manipur SGS 2042 (Re‑issue 7.79 %)

  • Notified amount: ₹300 cr; cut‑off yield 8.2651 %; 44 competitive bids (₹1,665 cr) with 2 accepted for ₹291.702 cr; partial competitive allotment 95.5673 % (1 bid).
  • Non‑competitive bids: 4 bids totalling ₹8.298 cr accepted at ₹95.86.
  • Weighted average yield: 8.2651 %.
  • Total allotment: ₹300 cr.

Nagaland SGS 2035 (9‑year)

  • Notified amount: ₹300 cr; cut‑off yield 8.18 %; 29 competitive bids (₹1,140 cr) with 4 accepted for ₹245 cr; partial competitive allotment not disclosed.
  • Non‑competitive bids: 6 bids totalling ₹11.615 cr accepted at ₹100.17.
  • Weighted average yield: 8.1522 %.
  • Total allotment: ₹256.615 cr (partial acceptance noted).

Sikkim SGS 2030 (7.55 %) and SGS 2042 (7.98 %)

  • Notified amounts: ₹200 cr each.
  • No competitive bids accepted for either issue; total allotment ₹0 cr for both.
  • Footnote confirms Sikkim did not accept any amount.

Tamil Nadu SGS 2041 (7.80 %), SGS 2046 (8.14 %), SGS 2051 (8.21 %), SGS 2056 (8.18 %)

  • Notified amounts: ₹2,500 cr each for 2041 and 2046; ₹2,000 cr each for 2051 and 2056.
  • SGS 2041: cut‑off yield 8.2597 %; 136 competitive bids (₹9,115 cr) with 36 accepted for ₹2,398.948 cr; partial competitive allotment 6.3622 % (5 bids).
  • SGS 2046: cut‑off yield 8.2767 %; 116 competitive bids (₹7,699 cr) with 19 accepted for ₹2,396.216 cr; partial competitive allotment 86.2462 % (1 bid).
  • SGS 2051: cut‑off yield 8.2656 %; 49 competitive bids (₹4,645 cr) with 8 accepted for ₹1,890.969 cr; partial competitive allotment 99.4961 % (1 bid).
  • SGS 2056: cut‑off yield 8.2537 %; 41 competitive bids (₹4,200 cr) with 10 accepted for ₹1,918.448 cr; partial competitive allotment 92.816 % (1 bid).
  • Weighted average yields: 8.2352 % (2041), 8.2683 % (2046), 8.2599 % (2051), 8.2492 % (2056).
  • Total allotments: ₹2,500 cr each for 2041 and 2046; ₹2,000 cr each for 2051 and 2056.

Uttar Pradesh SGS 2032 (7.14 %) and SGS 2042 (7.59 %)

  • Notified amounts: ₹500 cr (2032) and ₹1,000 cr (2042).
  • SGS 2032: cut‑off yield 7.9593 %; 52 competitive bids (₹2,998 cr) with 12 accepted for ₹484.091 cr; partial competitive allotment 17.2588 % (3 bids).
  • SGS 2042: cut‑off yield 8.2789 %; 95 competitive bids (₹3,570 cr) with 14 accepted for ₹937.089 cr; partial competitive allotment 20.4915 % (2 bids).
  • Weighted average yields: 7.9389 % (2032) and 8.2705 % (2042).
  • Total allotments: ₹500 cr (2032) and ₹1,000 cr (2042).

Uttar Pradesh SGS 2051 (7.95 %) and Uttarakhand SGS 2038 (7.64 %)

  • Notified amounts: ₹2,000 cr (UP 2051) and ₹500 cr (Uttarakhand).
  • UP 2051: cut‑off yield 8.2772 %; 42 competitive bids (₹4,525 cr) with 11 accepted for ₹1,967.754 cr; partial competitive allotment 1.5169 % (1 bid).
  • Uttarakhand 2038: cut‑off yield 8.2295 %; 58 competitive bids (₹2,385 cr) with 10 accepted for ₹499.903 cr; partial competitive allotment 18.3010 % (2 bids).
  • Non‑competitive bids were minimal, totaling ₹32.246 cr (UP) and ₹0.097 cr (Uttarakhand).
  • Weighted average yields: 8.2606 % (UP) and 8.2088 % (Uttarakhand).
  • Total allotments: ₹2,000 cr (UP) and ₹500 cr (Uttarakhand).

The auction outcomes illustrate varied investor demand across states, with some securities achieving full subscription and others receiving no allotment. The weighted average yields clustered around the high‑8 % range, indicating prevailing market pricing for long‑dated state debt.