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The Reserve Bank of India (RBI) on Tuesday announced the results of the yield/price-based auction of State Government Securities (SGS), with states collectively accepting Rs 46,100 crore against the notified amount of Rs 44,550 crore, indicating additional subscriptions in select securities.
As many as 16 State Governments raised funds through a mix of fresh issuances and re-issues. The securities span maturities ranging from three years to 28 years, reflecting varied borrowing strategies aligned with states' fiscal requirements. Among major issuances, Andhra Pradesh raised Rs 1,500 crore at a cut-off yield of 7.69 per cent for a 16-year tenor and Rs 1,600 crore at 7.70 per cent for 21 years, as per the data released by the RBI. Bihar accepted Rs 1,500 crore at 7.72% (15-year) and Rs 1,600 crore at 7.69% (28-year). Chhattisgarh raised Rs 1,000 crore at 7.64% (14-year) and Rs 1,000 crore via a re-issue of its 7.59% SGS 2046 at a cut-off price of Rs 98.78 (7.7096%). Goa raised Rs 100 crore at 7.50% (10-year), while Gujarat accepted Rs 1,500 crore against a notified Rs 1,000 crore at 7.24% for a 7-year and 6-month security, along with Rs 1,000 crore at 7.40% (10-year). Haryana raised Rs 1,000 crore at 7.67% (15-year) and Rs 1,000 crore through a re-issue of its 7.73% SGS 2045 at Rs 100.10 (7.7196%). Karnataka mobilised Rs 1,000 crore via a re-issue of its 7.25% SGS 2033 at Rs 100.03 (7.2443%), besides multiple issuances totalling Rs 8,000 crore across 8-year, 8-year 6-month, 10-year, and 10-year 6-month tenors with yields ranging from 7.37% to 7.47%. Kerala accepted Rs 1,000 crore at 7.72% (19-year). Maharashtra accepted Rs 1,850 crore each across 4-year (6.77%), 8-year (7.34%), and 11-year (7.48%) securities against Rs 1,500 crore notified per tenor. Nagaland raised Rs 500 crore at 6.89% (4-year), Punjab Rs 2,000 crore at 7.54% (8-year), and Rajasthan Rs 2,000 crore at 7.44% (7-year). Sikkim accepted Rs 250 crore at 7.53% (10-year). Tamil Nadu raised Rs 1,000 crore at 6.54% (3-year), Rs 1,000 crore via re-issue of 7.12% SGS 2032 at Rs 100.17 (7.0842%), Rs 2,000 crore at 7.43% (10-year), and Rs 1,000 crore via re-issue of 7.44% SGS 2055 at Rs 97.66 (7.6388%). Uttar Pradesh accepted Rs 500 crore via re-issue of 7.24% SGS 2033 at Rs 99.52 (7.3192%), Rs 1,000 crore via re-issue of 7.59% SGS 2041 at Rs 99.27 (7.6687%), and Rs 1,500 crore at 7.71% (20-year). West Bengal raised Rs 1,000 crore at 7.72% (15-year) and Rs 2,000 crore through a re-issue of 7.74% SGS 2048 at Rs 100.12 (7.7283%). As per the RBI data, Gujarat accepted an additional Rs 500 crore in the 7-year 6-month security, while Maharashtra accepted an additional Rs 350 crore each across the 4-year, 8-year, and 11-year securities. (ANI)
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