Result of Yield/ Price Based Auction of State Government Securities

**Executive Summary** This document is a press release from the Reserve Bank of India (RBI), dated February 10, 2026, announcing the results of the yield/price-based auction of State Government Securities (SGS). The auction aimed to raise funds for various states, with the results detailing the amount raised, amount accepted, cut-off price/yield, and tenor for each state's securities. Re-issues of securities were issued on February 04, 2026, and March 27, 2024. **Key Points / Main Content** * **Auction Overview:** * The auction was conducted for State Government Securities (SGS). * The total amount to be raised was ₹48615 Crore, and the total amount accepted was ₹47620.306 Crore. * **State-Specific Results:** * **Assam:** Raised ₹1000 Crore at a yield of 7.87% for a 20-year tenor. * **Bihar:** Raised ₹1500 Crore at a yield of 7.86% for a 13-year tenor and ₹1500 Crore at a yield of 7.77% for a 26-year tenor. * **Chhattisgarh:** Raised ₹1000 Crore at a price of ₹99.52, yielding 7.5617%, for a re-issue of 7.49% Chhattisgarh SGS 2035, issued on March 27, 2024, with a 10-year tenor. * **Gujarat:** Raised ₹1000 Crore at a yield of 7.59% for a 10-year tenor and ₹1500 Crore at a yield of 7.02% for a 05-year tenor, accepting an additional amount of ₹500 crore in the 05-year security. * **Haryana:** Raised ₹1500 Crore at a yield of 7.78% for a 14-year tenor and ₹1500 Crore at a yield of 7.83% for a 17-year tenor. * **Karnataka:** Raised ₹2000 Crore at a yield of 7.19% for a 06 year and 06 months tenor and ₹2000 Crore at a price of ₹99.68, yielding 7.5393%, for a re-issue of 7.49% Karnataka SGS 2035, issued on February 04, 2026. * **Madhya Pradesh:** Raised ₹1000 Crore at a yield of 7.56% for a 10-year tenor, ₹1000 Crore at a yield of 7.44% for a 08-year tenor, ₹2000 Crore at a yield of 7.82% for a 16-year tenor, and ₹1550.201 Crore at a yield of 7.84% for a 21-year tenor, accepting a partial amount of ₹1550.201 crore in the 21-year security. * **Maharashtra:** Raised ₹1850 Crore at a price of ₹100.10, yielding 6.8702%, for a re-issue of 6.90% Maharashtra SGS 2030, issued on February 04, 2026, and ₹1850 Crore at a price of ₹100.00, yielding 7.4396%, for a re-issue of 7.44% Maharashtra SGS 2034, issued on February 04, 2026, accepting an additional amount of ₹350 crore each in the 6.90% Maharashtra SGS 2030 and 7.44% Maharashtra SGS 2034. * **Mizoram:** Raised ₹115 Crore at a yield of 7.85% for a 16-year tenor. * **Punjab:** Raised ₹2000 Crore at a yield of 7.77% for a 12-year tenor. * **Tamil Nadu:** Raised ₹1000 Crore at a yield of 7.31% for a 07-year tenor, ₹1000 Crore at a yield of 7.54% for a 10-year tenor, and ₹1000 Crore at a yield of 7.58% for an 11-year tenor. Re-issue of 7.61% Tamil Nadu SGS 2056, issued on February 04, 2026, raised ₹2000 Crore at a price of ₹98.62, yielding 7.7287%. * **Telangana:** Raised ₹2000 Crore at a yield of 7.76% for a 13-year tenor, ₹2000 Crore at a yield of 7.80% for a 16-year tenor, ₹2500 Crore at a yield of 7.84% for a 21-year tenor, and ₹2500 Crore at a yield of 7.75% for a 27-year tenor. * **Uttar Pradesh:** Raised ₹1500 Crore at a price of ₹99.78, yielding 7.6296%, for a re-issue of 7.60% Uttar Pradesh SGS 2037, issued on February 04, 2026. * **West Bengal:** Raised ₹1500 Crore at a yield of 7.81% for a 15-year tenor, ₹1500 Crore at a yield of 7.82% for a 19-year tenor, and ₹1255.105 Crore at a yield of 7.84% for a 21-year tenor, accepting partial amount of ₹1255.105 crore in the 21-year security. **Impact Analysis** **State Governments** * **Impact:** Access to funds raised through the auction of SGS to finance their budgetary needs and development projects. * **Action Required:** Manage the received funds effectively to meet planned expenditure and ensure timely repayment of the securities. **Investors (Banks, Financial Institutions, etc.)** * **Impact:** Opportunity to invest in state government securities with varying tenors and yields, diversifying their investment portfolios. * **Action Required:** Monitor the performance of the securities and manage their investment strategies based on market conditions and risk assessment. **Reserve Bank of India (RBI)** * **Impact:** Successful completion of the auction process in line with the government's borrowing program, contributing to overall monetary policy objectives. * **Action Required:** Continue to monitor market conditions and ensure efficient management of government securities issuance.

Key Entities Referenced