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Date: 2025-12-16 Category: Not Applicable State: Union Government Country: India

State Government Securities - Full Auction Result

Issued by Reserve Bank of India · Not Applicable

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Executive Summary & Key Takeaways

**Executive Summary** This document details the full auction results of State Government Securities (SGS) held on December 16, 2025. It includes the notified amounts, tenors, bids received, and allotments for various states' securities. Gujarat and Tamil Nadu have not accepted any amount in the 15 and 11-year security, respectively. Uttar Pradesh has accepted a partial amount of ₹980 crore in the 14-year security. **Key Points / Main Content** * **Auction Overview:** * Details the full auction results of State Government Securities (SGS) held on December 16, 2025. * **State-wise Securities Auction Results:** * Provides detailed results for each state, including Assam, Chhattisgarh, Goa, Gujarat, Maharashtra, Nagaland, Puducherry, Tamil Nadu, Uttar Pradesh, and West Bengal. * Each state's results include data for: * Notified Amount (in Crore) * Tenor (in years) * Competitive Bids Received (Number and Amount) * Cut-off Yield (%) and Cut-off Price (₹) * Competitive Bids Accepted (Number and Amount) * Partial Allotment Percentage of Competitive Bids * Non-Competitive Bids Received (Number and Amount) * Non-Competitive Price (₹) * Non-Competitive Bids Accepted (Number and Amount) * Partial Allotment Percentage of Non-Competitive Bids * Weighted Average Yield (%) * Total Allotment Amount * **Special Conditions:** * Gujarat has not accepted any amount in the 15-year security. * Tamil Nadu has not accepted any amount in the 11-year security. * Uttar Pradesh has accepted partial amount of ₹980 crore in the 14-year security. * **Total Notified and Allotment Amount:** * The total notified amount across all states is ₹17850 Crore. * The total allotment amount across all states is ₹15330 Crore. **Impact Analysis** **State Governments (Assam, Chhattisgarh, Goa, Gujarat, Maharashtra, Nagaland, Puducherry, Tamil Nadu, Uttar Pradesh, and West Bengal)** * **Impact:** The auction results directly affect the states' borrowing and fiscal planning. * **Action Required:** Analyze the auction results and adjust financial strategies based on the amounts allotted and the yields obtained. **Investors (Banks, Financial Institutions, etc.)** * **Impact:** Provides information on the yields, prices, and allotment amounts of State Government Securities. * **Action Required:** Review the auction results to assess the performance of their bids and inform future investment decisions. **Reserve Bank of India (RBI)** * **Impact:** The RBI is responsible for conducting the auction of State Government Securities. * **Action Required:** Monitor the auction results and assess the overall market response to State Government Securities. **Market Participants** * **Impact:** The auction results provide market participants with information about the prices and yields of State Government Securities. * **Action Required:** Use the information to adjust trading strategies and investment decisions.

Key Entities Referenced

State Government Securities: Securities issued by state governments, the subject of the auction results reported. Reserve Bank of India: The publisher of this press release regarding the auction of State Government Securities. Assam: One of the States whose State Government Securities were auctioned. Chhattisgarh: One of the States whose State Government Securities were auctioned. Goa: One of the States whose State Government Securities were auctioned.
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प्रेस प्रकाशनी PRESS RELEASE भारतीय ररज़र्व बैंक 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 December 16, 2025 State Government Securities - Full Auction Result The result of the auction of State Government Securities held on December 16, 2025, is as under: (Amount in ₹ Crore) ASSAM SGS CHHATTISGARH CHHATTISGARH GOA SGS 2039 SGS 2033 SGS 2030 2035 Notified Amount 900 1000 1000 100 Tenor 14 -Years 8 -Years Re-issue of 7.29% 10 -Years CHHATTISGARH SGS 2030 issued on 07-JUN-2023 Competitive Bids Received (i) No. 123 44 19 8 (ii) Amount 3445.75 2395 1265 505 Cut-off Yield (%) 7.59 7.37 7.0694 7.34 Cut off Price (₹) 100 100 100.83 100 Competitive Bids Accepted (i) No. 45 17 15 2 (ii) Amount 862.361 964.958 986.923 94.922 Partial Allotment Percentage of Competitive Bids (i) Percentage 8.9267 99.9888 13.4266 89.9220 (ii) No. 13 3 2 1 Non - Competitive Bids Received (i) No. 9 5 4 5 (ii) Amount 37.639 35.042 13.077 5.078 Non-Competitive Price 100.20 100.24 101.27 100.01 (₹) Non-Competitive Bids Accepted (i) No. 9 5 4 5 (ii) Amount 37.639 35.042 13.077 5.078 Partial Allotment Percentage of Non-Competitive Bids Percentage Weighted Average 7.5666 7.3299 6.9539 7.3384 Yield (%) Total Allotment 900 1000 1000 100 Amount2 GUJARAT GUJARAT MAHARASHTRA MAHARASHTRA SGS 2034 SGS 2040* SGS 2033 SGS 2037 Notified Amount 1000 1000 1000 1000 Tenor 9 -Years 15 -Years Re-issue of Re-issue of 7.07% 7.25% MAHARASHTRA MAHARASHTRA SGS 2033 issued SGS 2037 issued on 12-NOV-2025 on 12-NOV-2025 Competitive Bids Received (i) No. 44 106 25 109 (ii) Amount 3782.75 5725 2705 4745 Cut-off Yield (%) 7.27 7.2706 7.4189 Cut off Price (₹) 100 98.80 98.67 Competitive Bids Accepted (i) No. 25 11 37 (ii) Amount 950.492 999.957 901.455 Partial Allotment Percentage of Competitive Bids (i) Percentage 1.8307 82.4957 94.5462 (ii) No. 2 1 4 Non - Competitive Bids Received (i) No. 10 16 2 13 (ii) Amount 49.508 173.209 0.043 98.545 Non-Competitive Price 100.29 98.86 98.91 (₹) Non-Competitive Bids Accepted (i) No. 10 2 13 (ii) Amount 49.508 0.043 98.545 Partial Allotment Percentage of Non- Competitive Bids Percentage Weighted Average Yield 7.2250 7.2604 7.3879 (%) Total Allotment 1000 0 1000 1000 Amount3 NAGALAND PUDUCHERRY PUDUCHERRY TAMILNADU SGS 2030 SGS 2030 SGS 2035 SGS 2029 N otified Amount 500 150 200 1000 Tenor 5 -Years 5 -Years 10 -Years 4 -Years Competitive Bids Received (i) No. 13 6 15 24 (ii) Amount 1725 300 850 3115 Cut-off Yield (%) 7.14 7.14 7.56 6.77 Cut off Price (₹) 100 100 100 100 Competitive Bids Accepted (i) No. 7 4 8 18 (ii) Amount 493.940 149.977 197.976 984.975 Partial Allotment Percentage of Competitive Bids (i) Percentage 56.7600 33.3180 35.3477 16.9975 (ii) No. 3 1 2 1 Non - Competitive Bids Received (i) No. 4 2 3 4 (ii) Amount 6.060 0.023 2.024 15.025 Non-Competitive Price (₹) 100.07 100.17 100.26 100.24 Non-Competitive Bids Accepted (i) No. 4 2 3 4 (ii) Amount 6.060 0.023 2.024 15.025 Partial Allotment Percentage of Non- Competitive Bids Percentage Weighted Average Yield 7.1238 7.1000 7.5219 6.6999 (%) Total Allotment Amount 500 150 200 10004 TAMILNADU SGS TAMILNADU TAMILNADU TAMILNADU SGS 2032 SGS 2035 SGS 2036# 2055 N otified Amount 1000 1000 1000 1000 Tenor 7 -Years 10 -Years 11 -Years 30 -Years Competitive Bids Received (i) No. 25 44 52 20 (ii) Amount 2381.50 2265 3580 3810 Cut-off Yield (%) 7.16 7.23 7.45 Cut off Price (₹) 100 100 100 Competitive Bids Accepted (i) No. 11 1 1 (ii) Amount 972.785 932.620 977.821 Partial Allotment Percentage of Competitive Bids (i) Percentage 57.7785 93.2620 97.7821 (ii) No. 1 1 1 Non - Competitive Bids Received (i) No. 5 10 10 5 (ii) Amount 27.215 67.380 53.047 22.179 Non-Competitive 100.09 100 100 Price (₹) Non-Competitive Bids Accepted (i) No. 5 10 5 (ii) Amount 27.215 67.380 22.179 Partial Allotment Percentage of Non-Competitive Bids Percentage Weighted 7.1443 7.2300 7.4500 Average Yield (%) Total Allotment 1000 1000 0 1000 Amount5 UTTAR UTTAR UTTAR PRADESH WEST PRADESH PRADESH SGS 2033 BENGAL SGS SGS 2037 SGS 2039$ 2041 N otified Amount 1000 1500 500 1000 Tenor 12 -Years 14 -Years Re-issue of 7.24% 16 -Years UTTARPRADESH SGS 2033 issued on 10-DEC-2025 Competitive Bids Received (i) No. 81 116 27 96 (ii) Amount 4672.75 4230 1761.50 1940 Cut-off Yield (%) 7.46 7.51 7.2597 7.61 Cut off Price (₹) 100 100 99.88 100 Competitive Bids Accepted (i) No. 10 22 7 50 (ii) Amount 900 830 486.923 900 Partial Allotment Percentage of Competitive Bids (i) Percentage 16.2500 70.5621 36.9565 (ii) No. 3 2 6 Non - Competitive Bids Received (i) No. 15 17 6 12 (ii) Amount 109.307 181.785 13.077 175.605 Non-Competitive Price (₹) 100.15 100.11 99.93 100.36 Non-Competitive Bids Accepted (i) No. 15 17 6 12 (ii) Amount 100 150 13.077 100 Partial Allotment Percentage of Non- Competitive Bids Percentage 91.4855 82.5151 56.9460 Weighted Average Yield (%) 7.4407 7.4977 7.2513 7.5705 Total Allotment Amount 1000 980 500 10006 WEST BENGAL SGS 2044 Total N otified Amount 1000 17850 Tenor 19 -Years Competitive Bids Received (i) No. 87 1084 (ii) Amount 3750 58949.250 Cut-off Yield (%) 7.52 - Cut off Price (₹) 100 - Competitive Bids Accepted (i) No. 4 295 (ii) Amount 900 14488.085 Partial Allotment Percentage of Competitive Bids (i) Percentage 81.0811 - (ii) No. 4 - Non - Competitive Bids Received (i) No. 14 171 (ii) Amount 148.711 1233.579 Non-Competitive Price (₹) 100 - Non-Competitive Bids Accepted (i) No. 14 145 (ii) Amount 100 841.915 Partial Allotment Percentage of Non-Competitive Bids Percentage 67.2445 - Weighted Average Yield (%) 7.5200 - Total Allotment Amount 1000 15330 *Gujarat has not accepted any amount in the 15-year security. #Tamil Nadu has not accepted any amount in the 11-year security. $Uttar Pradesh has accepted partial amount of ₹980 crore in the 14-year security. Ajit Prasad Press Release: 2025-2026/1714 Deputy General Manager (Communications)

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