**Executive Summary**
This document presents the results of the State Government Securities auction held on January 27, 2026. It details the amounts notified, bids received and accepted for various states and tenors. Maharashtra did not accept any amount in the re-issue of 7.48% Maharashtra SGS 2045.
**Key Points / Main Content**
* **Auction Details:**
* Date of Auction: January 27, 2026.
* Type: Full Auction Result for State Government Securities.
* **Bidding Information (Competitive & Non-Competitive):**
* Number of bids received and accepted.
* Amount of bids received and accepted (in Crore).
* Cut-off Yield (%) and Cut-off Price (₹).
* Partial allotment percentage of competitive bids.
* Non-Competitive Bids received & accepted
* Non-Competitive price (₹)
* **Securities Information (State-Specific):**
* Details for Andhra Pradesh (SGS 2035, SGS 2043), Assam (SGS 2036), Bihar (SGS 2040, SGS 2050), Gujarat (SGS 2036), Haryana (SGS 2040), Karnataka (SGS 2031, SGS 2033, SGS 2035), Kerala (SGS 2039), Maharashtra (SGS 2034, SGS 2040, SGS 2045*), Odisha (SGS 2033, SGS 2038), Punjab (SGS 2033), Rajasthan (SGS 2035, SGS 2036), Tamil Nadu (SGS 2034, SGS 2036, SGS 2037, SGS 2056), Telangana (SGS 2044, SGS 2048), Uttarkhand (SGS 2038), West Bengal (SGS 2044, SGS 2047).
* **Total Allotment Amounts:**
* Details are specified for each state and their respective SGS.
* **Reissue Notes:**
* Reissue of 7.32% KARNATAKA SGS 2033 issued on 21-JAN-2026.
* Re-issue of 7.24% MAHARASHTRA SGS 2034 issued on 10-SEP-2025.
* Re-issue of 7.43% MAHARASHTRA SGS 2040 issued on 03-DEC-2025
* Re-issue of 7.48% MAHARASHTRA SGS 2045 issued on 10-DEC-2025
* Re-issue of 7.54% RAJASTHAN SGS 2036 issued on 24-DEC-2025
* Re-issue of 7.58% TAMILNADU SGS 2056 issued on 21-JAN-2026
* **Miscellaneous:**
* Maharashtra has not accepted any amount in the Re-issue of 7.48% Maharashtra SGS 2045, issued on December 10, 2025.
* Total notified amount: 39800 Crore
* Total allotment amount: 38300 Crore
**Impact Analysis**
**State Governments**
* **Impact:** States receive funding based on accepted bids for their securities. The auction results determine the yield rates they must pay.
* **Action Required:** Review the auction results to understand the cost of borrowing and manage their finances accordingly.
**Bidders (Financial Institutions, etc.)**
* **Impact:** Bidders are impacted by the success of their bids and the cut-off yield/price.
* **Action Required:** Review their allotment status, adjust investment strategies based on auction outcomes, and manage their portfolios accordingly.
**Reserve Bank of India (RBI)**
* **Impact:** The RBI manages the auction process and influences the yield rates in the market.
* **Action Required:** Analyze the auction results to assess market demand and inform future monetary policy decisions.
Key Entities Referenced
State Government Securities: Securities issued by various state governments, auctioned by the Reserve Bank of India.
Reserve Bank of India: Central bank of India, responsible for conducting the auctions of State Government Securities.
Maharashtra SGS 2045: Mentioned in footnote. State Government Securities issued by Maharashtra state in 2045.
Andhra Pradesh: Issuing state for some of the securities detailed in the auction.
Bihar: Issuing state for some of the securities detailed in the auction.