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The Reserve Bank of India (RBI) announced the results of the auction of State Government Securities (SGS) held on March 2, 2026, with total allotment amounting to Rs 44,330 crore against a notified amount of Rs 43,130 crore.
According to the RBI, competitive bids worth Rs 2,07,027.237 crore were received across securities, of which Rs 42,564.241 crore were accepted. Non-competitive bids aggregating Rs 2,179.872 crore were received, with Rs 1,765.759 crore accepted. Among major issuances, Rs 1,000 crore each was allotted for Assam SGS 2035 (9-year tenor) at a weighted average yield of 7.4748 per cent and Chhattisgarh SGS 2038 (12-year) at 7.5311 per cent. Chhattisgarh SGS 2043 (17-year) and Gujarat SGS 2032 (6-year 6-month) were also fully allotted at Rs 1,000 crore each. Gujarat accepted an additional Rs 500 crore in the 10-year Gujarat SGS 2036, taking the total allotment in that security to Rs 1,500 crore. Karnataka raised Rs 2,000 crore each through multiple securities, including SGS 2033 (7-year 6-month), SGS 2034 (8-year), re-issue of 7.47 per cent SGS 2036, SGS 2037 (11-year 6-month) and SGS 2039 (13-year). Madhya Pradesh mobilised Rs 1,800 crore through SGS 2035 (9-year), Rs 1,600 crore each via SGS 2039 (13-year) and SGS 2049 (re-issue of 7.72 per cent), and Rs 1,300 crore through SGS 2041 (15-year). Maharashtra accepted Rs1,550 crore each in SGS 2034 (8-year) and re-issue of 7.43 per cent SGS 2040, including an additional Rs 350 crore in both securities. It also raised Rs 800 crore each through SGS 2047 (21-year) and SGS 2052 (26-year). Tamil Nadu raised Rs 2,000 crore through SGS 2031 (5-year) and SGS 2035 (9-year), Rs 1,000 crore through SGS 2033 (7-year) and SGS 2036 (re-issue of 7.43 per cent), and Rs 1,000 crore through SGS 2056 (30-year). Telangana mobilised Rs 1,000 crore via SGS 2046 (20-year) and SGS 2055 (29-year), Rs 500 crore through SGS 2052 (26-year) and Rs 1,000 crore via SGS 2046, with weighted average yields ranging between 7.6500 per cent and 7.6692 per cent. Uttar Pradesh raised Rs 500 crore through the re-issue of 7.57 per cent SGS 2036 and Rs 1,500 crore via SGS 2041 (15-year). Uttarakhand raised Rs 1,000 crore through SGS 2041 (15-year), while West Bengal mobilised Rs 1,500 crore via re-issue of 7.67 per cent SGS 2046 and Rs 2,000 crore through SGS 2049 (23-year). The cut-off yields across securities ranged from 6.91 per cent to 7.7037 per cent. The weighted average yields varied depending on tenor and state-specific demand dynamics, said the RBI release. (ANI)
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