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Date: 2026-01-06 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 presents the full auction results of State Government Securities (SGS) held on January 06, 2026. It details the amounts notified, bids received and accepted, cut-off yields and prices, and weighted average yields for various states and tenors. The total allotment amount for all states combined is ₹30,100 Crore. **Key Points / Main Content** * **Auction Overview:** * The auction was for State Government Securities (SGS). * The auction was held on January 06, 2026. * **State-Specific Results:** * Results are provided for Andhra Pradesh, Assam, Chhattisgarh, Jammu and Kashmir UT, Karnataka, Madhya Pradesh, Rajasthan, Tamil Nadu, and West Bengal. * Each state has multiple SGS offerings with different tenors (ranging from 4 to 30 years and 5 years and 6 months) and notified amounts (ranging from ₹600 Crore to ₹2000 Crore). * **Bidding Information:** * Details provided for both competitive and non-competitive bids. * Data includes the number of bids received and the total amount bid. * **Accepted Bids:** * Number and amount of competitive and non-competitive bids accepted are listed. * Partial allotment percentages for competitive and non-competitive bids are included. * **Yield and Pricing:** * Cut-off yield (%) and cut-off price (₹) are specified for competitive bids. * Non-competitive price (₹) is also provided. * Weighted average yield (%) is calculated for each SGS. * **Total Allotment:** * The total allotment amount for each state's SGS is specified. **Impact Analysis** **State Governments** * **Impact**: Affected by the success of the auction as this is a key source of funding. * **Action Required**: Evaluate the auction results to understand the market's appetite for their debt and plan future issuances accordingly. **Investors (Banks, Financial Institutions, etc.)** * **Impact**: Impacted by the yields and prices determined in the auction as this sets the benchmark for their investments in state government securities. * **Action Required**: Review the auction results and adjust investment strategies based on the yields obtained and the allocation received. **Reserve Bank of India (RBI)** * **Impact**: Has oversight and facilitates the auction process. * **Action Required**: Monitor the auction results to gauge market conditions and make informed monetary policy decisions.

Key Entities Referenced

State Government Securities: Subject of the full auction result. Reserve Bank of India: Issuer of the press release regarding State Government Securities auction results. Andhra Pradesh: One of the states whose State Government Securities are being auctioned. Tamil Nadu: One of the states whose State Government Securities are being auctioned. Karnataka: One of the states whose State Government Securities are being 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 January 06, 2026 State Government Securities - Full Auction Result The result of the auction of State Government Securities held on January 06, 2026, is as under: (Amount in ₹ Crore) ANDHRA ANDHRA ANDHRA ANDHRA PRADESH PRADESH PRADESH PRADESH SGS 2036 SGS 2040 SGS 2042 SGS 2044 Notified Amount 1000 1000 1000 1000 Tenor 10 -Years 14 -Years 16 -Years 18 -Years Competitive Bids Received (i) No. 94 121 73 73 (ii) Amount 6505 5155 4916.50 4515 Cut-off Yield (%) 7.53 7.64 7.61 7.60 Cut off Price (₹) 100 100 100 100 Competitive Bids Accepted (i) No. 25 43 12 9 (ii) Amount 900 900 909.548 939.999 Partial Allotment Percentage of Competitive Bids (i) Percentage 4.6980 93.1818 65.3796 87.0646 (ii) No. 5 13 8 3 Non - Competitive Bids Received (i) No. 13 14 12 8 (ii) Amount 113.041 119.020 90.452 60.001 Non-Competitive Price (₹) 100.16 100.15 100.01 100.02 Non-Competitive Bids Accepted (i) No. 13 14 12 8 (ii) Amount 100 100 90.452 60.001 Partial Allotment Percentage of Non-Competitive Bids Percentage 88.4635 84.0195 Weighted Average Yield (%) 7.5068 7.6227 7.6093 7.5977 Total Allotment Amount 1000 1000 1000 10002 ANDHRA ANDHRA ASSAM CHHATTISGARH PRADESH PRADESH SGS 2036 SGS 2035 SGS 2045 SGS 2047 Notified Amount 1000 1500 1000 1000 Tenor 19 -Years 21 -Years 10 -Years 9 -Years Competitive Bids Received (i) No. 47 29 84 109 (ii) Amount 3476 3460 5805 8815 Cut-off Yield (%) 7.60 7.59 7.57 7.50 Cut off Price (₹) 100 100 100 100 Competitive Bids Accepted (i) No. 6 1 16 9 (ii) Amount 964.934 1467.774 900 947.903 Partial Allotment Percentage of Competitive Bids (i) Percentage 77.8260 97.8516 8.0644 (ii) No. 3 1 4 Non - Competitive Bids Received (i) No. 6 5 11 9 (ii) Amount 35.066 32.226 110.265 52.097 Non-Competitive Price (₹) 100.02 100 100.12 100.23 Non-Competitive Bids Accepted (i) No. 6 5 11 9 (ii) Amount 35.066 32.226 100 52.097 Partial Allotment Percentage of Non-Competitive Bids Percentage 90.6906 Weighted Average Yield (%) 7.5979 7.5900 7.5529 7.4649 Total Allotment Amount 1000 1500 1000 10003 CHHATTISGARH JAMMU AND KARNATAKA KARNATAKA SGS 2046 KASHMIR UT SGS 2031 SGS 2032 SGS 2038 N otified Amount 1000 600 2000 1000 Tenor 20 -Years 12 -Years 5 -Years 6 - Re-issue of Months 7.19% KARNATAKA SGS 2032 issued on 24- DEC-2025 Competitive Bids Received (i) No. 50 67 83 52 (ii) Amount 3970 3230 7625 5360 Cut-off Yield (%) 7.59 7.67 7.16 7.2501 Cut off Price (₹) 100 100 100 99.69 Competitive Bids Accepted (i) No. 1 26 28 15 (ii) Amount 959.899 578.965 1984.763 997.963 Partial Allotment Percentage of Competitive Bids (i) Percentage 95.9899 86.2657 14.7414 95.1323 (ii) No. 1 5 3 3 Non - Competitive Bids Received (i) No. 6 5 3 3 (ii) Amount 40.101 21.035 15.237 2.037 Non-Competitive Price 100 100.16 100.10 99.82 (₹) Non-Competitive Bids Accepted (i) No. 6 5 3 3 (ii) Amount 40.101 21.035 15.237 2.037 Partial Allotment Percentage of Non- Competitive Bids Percentage Weighted Average Yield 7.5900 7.6497 7.1367 7.2245 (%) Total Allotment 1000 600 2000 1000 Amount4 KARNATAKA KARNATAKA MADHYA MADHYA SGS 2034 SGS 2036 PRADESH PRADESH SGS 2030 SGS 2038 N otified Amount 1000 2000 1500 1500 Tenor 8 -Years 10 -Years 6 - 4 -Years 12 -Years Months Competitive Bids Received (i) No. 66 151 75 118 (ii) Amount 5205 11572 9840 8641.50 Cut-off Yield (%) 7.34 7.51 6.95 7.59 Cut off Price (₹) 100 100 100 100 Competitive Bids Accepted (i) No. 11 45 19 34 (ii) Amount 968.987 1871.536 1478.954 1350 Partial Allotment Percentage of Competitive Bids (i) Percentage 91.9960 24.2224 87.3705 1.6287 (ii) No. 4 8 4 9 Non - Competitive Bids Received (i) No. 6 14 5 19 (ii) Amount 31.013 128.464 21.046 165.099 Non-Competitive Price (₹) 100.08 100.13 100.07 100.15 Non-Competitive Bids Accepted (i) No. 6 14 5 19 (ii) Amount 31.013 128.464 21.046 150 Partial Allotment Percentage of Non-Competitive Bids Percentage 90.8546 Weighted Average Yield (%) 7.3258 7.4918 6.9299 7.5707 Total Allotment Amount 1000 2000 1500 15005 MADHYA RAJASTHAN TAMILNADU TAMILNADU PRADESH SGS 2040 SGS 2030 SGS 2032 SGS 2044 N otified Amount 1000 1000 1000 2000 Tenor 18 -Years 14 -Years 4 -Years 6 -Years Competitive Bids Received (i) No. 70 88 56 76 (ii) Amount 3322 4720 7430 7350 Cut-off Yield (%) 7.59 7.65 6.92 7.22 Cut off Price (₹) 100 100 100 100 Competitive Bids Accepted (i) No. 11 47 19 29 (ii) Amount 900 908.868 982.962 1978.659 Partial Allotment Percentage of Competitive Bids (i) Percentage 71.2264 5.9508 0.9651 52.2075 (ii) No. 3 6 6 6 Non - Competitive Bids Received (i) No. 19 11 4 4 (ii) Amount 257.539 91.132 17.038 21.341 Non-Competitive Price (₹) 100.03 100.31 100.10 100.11 Non-Competitive Bids Accepted (i) No. 18 11 4 4 (ii) Amount 100 91.132 17.038 21.341 Partial Allotment Percentage of Non-Competitive Bids Percentage 38.8291 Weighted Average Yield (%) 7.5874 7.6136 6.8902 7.1968 Total Allotment Amount 1000 1000 1000 20006 TAMILNADU TAMILNADU TAMILNADU WEST BENGAL SGS 2035 SGS 2037 SGS 2056 SGS 2041 N otified Amount 1000 1000 1000 1000 Tenor Re-issue of 11 -Years 30 -Years 15 -Years 7.42% TAMILNADU SGS 2035 issued on 31-DEC-2025 Competitive Bids Received (i) No. 94 100 26 110 (ii) Amount 6430 7230 3505 3960 Cut-off Yield (%) 7.4844 7.50 7.58 7.64 Cut off Price (₹) 99.55 100 100 100 Competitive Bids Accepted (i) No. 28 12 4 32 (ii) Amount 962.935 921.436 994.378 900 Partial Allotment Percentage of Competitive Bids (i) Percentage 91.7400 35.8583 46.6024 88.6047 (ii) No. 1 6 3 18 Non - Competitive Bids Received (i) No. 9 13 3 10 (ii) Amount 37.065 78.564 5.622 106.019 Non-Competitive Price 99.72 100.04 100.01 100.03 (₹) Non-Competitive Bids Accepted (i) No. 9 13 3 10 (ii) Amount 37.065 78.564 5.622 100 Partial Allotment Percentage of Non- Competitive Bids Percentage 94.3227 Weighted Average Yield 7.4599 7.4943 7.5788 7.6363 (%) Total Allotment 1000 1000 1000 1000 Amount7 WEST BENGAL WEST BENGAL Total SGS 2045 SGS 2047 N otified Amount 1000 1000 30100 Tenor 19 -Years 21 -Years Competitive Bids Received (i) No. 60 34 2006 (ii) Amount 3565 3115 148718 Cut-off Yield (%) 7.61 7.60 - Cut off Price (₹) 100 100 - Competitive Bids Accepted (i) No. 1 1 484 (ii) Amount 900 989.926 28560.389 Partial Allotment Percentage of Competitive Bids (i) Percentage 90 98.9926 - (ii) No. 1 1 - Non - Competitive Bids Received (i) No. 16 3 231 (ii) Amount 185.905 10.074 1846.499 Non-Competitive Price (₹) 100 100 - Non-Competitive Bids Accepted (i) No. 16 3 230 (ii) Amount 100 10.074 1539.611 Partial Allotment Percentage of Non-Competitive Bids Percentage 53.7909 - Weighted Average Yield (%) 7.6100 7.6000 - Total Allotment Amount 1000 1000 30100 Ajit Prasad Press Release: 2025-2026/1862 Deputy General Manager (Communications)

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