On September 23, 2025, the Reserve Bank of India released the results of the yield/price-based auction of State Government Securities. The total amount to be raised was ₹27000 Crore, with the amount accepted being ₹25000 Crore.
Key details per state are as follows:
* **Bihar:** ₹2000 Crore accepted at a yield of 7.45% for a tenor of 20 years and ₹2000 Crore for a tenor of 25 years.
* **Chhattisgarh:** ₹500 Crore accepted at a price of 101.14 with a yield of 6.6691% for the re-issue of 7.00% Chhattisgarh SGS 2029, issued on September 19, 2024.
* **Gujarat:** ₹1500 Crore accepted at a yield of 7.07% for a tenor of 07 years.
* **Kerala:** ₹1000 Crore accepted at a yield of 7.44% for a tenor of 25 years.
* **Madhya Pradesh:** ₹1500 Crore accepted at a yield of 7.43% for a tenor of 18 years; ₹1500 Crore at 7.44% for a tenor of 21 years; ₹1000 Crore at 7.27% for a tenor of 11 years.
* **Maharashtra:** ₹1000 Crore in the Re-issue of 7.14% Maharashtra SGS 2045, issued on July 09, 2025 and Re-issue of 7.15% Maharashtra SGS 2046, issued on July 02, 2025. *Note: Maharashtra did not accept any amount in the re-issue of the aforementioned securities.*
* **Punjab:** ₹1000 Crore accepted at a price of 97.56 with a yield of 7.3886% for the re-issue of 6.98% Punjab SDL 2033, issued on September 29, 2021.
* **Rajasthan:** ₹1500 Crore accepted at a yield of 7.32% and ₹1000 Crore at 7.26%, both for a tenor of 10 years.
* **Tamil Nadu:** ₹1000 Crore accepted at a price of 100.14 with a yield of 7.0205% for the re-issue of 7.05% Tamil Nadu SGS 2031, issued on September 17, 2025; ₹1000 Crore at 100.17/7.1182 for 7.15% Tamil Nadu SGS 2032, issued on September 17, 2025; ₹1000 Crore at 100.06/7.1796 for 7.19% Tamil Nadu SGS 2033, issued on September 17, 2025.
* **Telangana:** ₹1500 Crore accepted at a yield of 7.44% for a tenor of 22 years; ₹1000 Crore at 7.44% for a tenor of 23 years; ₹1000 Crore at 7.44% for a tenor of 24 years; ₹1500 Crore at 7.44% for a tenor of 26 years.
* **West Bengal:** ₹1000 Crore accepted at a yield of 7.42% for a tenor of 11 years; ₹1500 Crore at 100.21/7.4489 for the re-issue of 7.47% West Bengal SGS 2044, issued on September 17, 2025.
The press release number is 2025-2026/1150. Further information can be obtained from Ajit Prasad, Deputy General Manager (Communications). The Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort, Mumbai - 400 001. Phone: 022 - 2266 0502. Website: www.rbi.org.in. Email: helpdoc@rbi.org.in
Key Entities Referenced
State Government Securities: Securities issued by state governments, the result of whose yield/price based auction is being announced.
Reserve Bank of India: The entity conducting the auction of State Government Securities.
State Governments: The entities issuing the State Government Securities.
प्रेस प्रकाशनी PRESS RELEASE
भारतीय ररज़र्व ब ैंक
RESERVE BANK OF INDIA
वेबसाइट : www.rbi.org.in/hindi संचार वर्भाग, केंद्रीय कायाालय, शहीद भगत ससिंह मागा, फोटा, म िंबई - 400 001
Website : www.rbi.org.in Department of Communication, Central Office, Shahid Bhagat Singh Marg, Fort,
ई-मेल/email : helpdoc@rbi.org.in Mumbai - 400 001 फोन/Phone: 022 - 2266 0502
September 23, 2025
Result of Yield/ Price Based Auction of State Government Securities
Amount to Amount Cut off
Sr.
State be raised Accepted Price (₹)/ Tenor (Year)
No.
(₹ Crore) (₹ Crore) Yield (%)
2000 2000 7.45 20
1. Bihar
2000 2000 7.45 25
Re-issue of 7.00%
Chhattisgarh SGS 2029,
2. Chhattisgarh 500 500 101.14/6.6691
issued on September 19,
2024
3. Gujarat 1500 1500 7.07 07
4. Kerala 1000 1000 7.44 25
1500 1500 7.43 18
5. Madhya Pradesh
1500 1500 7.44 21
1000 1000 7.27 11
Re-issue of 7.14%
1000 - - Maharashtra SGS 2045,
6. Maharashtra* issued on July 09, 2025
Re-issue of 7.15%
1000 - - Maharashtra SGS 2046,
issued on July 02, 2025
Re-issue of 6.98% Punjab
7. Punjab 1000 1000 97.56/7.3886 SDL 2033, issued on
September 29, 2021
8. Rajasthan 1500 1500 7.32 10
1000 1000 7.26 10
Re-issue of 7.05% Tamil
1000 1000 100.14/7.0205 Nadu SGS 2031, issued on
September 17, 2025
Re-issue of 7.15% Tamil
9. Tamil Nadu
1000 1000 100.17/7.1182 Nadu SGS 2032, issued on
September 17, 2025
Re-issue of 7.19% Tamil
1000 1000 100.06/7.1796 Nadu SGS 2033, issued on
September 17, 2025
1500 1500 7.44 22
1000 1000 7.44 23
10. Telangana
1000 1000 7.44 24
1500 1500 7.44 262
1000 1000 7.42 11
Re-issue of 7.47% West
11. West Bengal
1500 1500 100.21/7.4489 Bengal SGS 2044, issued on
September 17, 2025
Total 27000 25000
*Maharashtra has not accepted any amount in the Re-issue of 7.14% Maharashtra SGS
2045, issued on July 09, 2025, and 7.15% Maharashtra SGS 2046, issued on July 02,
2025
Ajit Prasad
Press Release: 2025-2026/1150 Deputy General Manager
(Communications)