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Date: 2025-12-02 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 report presents the results of the auction of State Government Securities (SGS) held on December 02, 2025. It details the notified amounts, tenors, and auction outcomes for various states, including Andhra Pradesh, Bihar, Gujarat, Himachal Pradesh, Madhya Pradesh, Maharashtra, Meghalaya, Punjab, Rajasthan, Tamil Nadu, Telangana, Uttar Pradesh, and West Bengal. The document outlines the accepted bids, cut-off yields, and weighted average yields for each state's securities. **Key Points / Main Content** * **Auction Overview:** * The auction took place on December 02, 2025. * The report covers the results for various State Government Securities (SGS). * Amounts are in Crore INR. * **Competitive Bids:** * Number of competitive bids received and accepted are listed for each state security. * Total competitive bid amounts received and accepted are listed. * The Cut-off Yield (%) and Cut-off Price (₹) are specified for each security. * Partial allotment percentages of competitive bids are specified. * **Non-Competitive Bids:** * Number of non-competitive bids received and accepted are listed for each state security. * Total non-competitive bid amounts received and accepted are listed. * The non-competitive price is listed. * Partial allotment percentages of non-competitive bids are specified. * **Weighted Average Yield:** * The Weighted Average Yield (%) is provided for each state security. * **Total Allotment Amount:** * The Total Allotment Amount is provided for each state security. **Impact Analysis** **State Governments** * **Impact:** Affected in terms of the amount of funds raised through the auction of their respective State Government Securities (SGS). The accepted bid amounts and weighted average yields determine the cost and availability of funds. * **Action Required:** Need to manage their finances based on the funds raised and the interest rates (yields) they will be paying on these securities.

Key Entities Referenced

State Government Securities (SGS): Securities issued by state governments to raise funds from the market. This document reports the results of their auction. Reserve Bank of India (RBI): India's central bank, which conducts the auctions for State Government Securities and releases the results. Andhra Pradesh: One of the states whose SGS are auctioned. Results are listed. Maharashtra: One of the states whose SGS are auctioned. Results are listed. Uttar Pradesh: One of the states whose SGS are auctioned. Results are listed.
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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 02, 2025 State Government Securities - Full Auction Result The result of the auction of State Government Securities held on December 02, 2025, is as under: (Amount in ₹ Crore) ANDHRA PRADESH ANDHRA PRADESH ANDHRA PRADESH BIHAR SGS SGS 2036 SGS 2040 SGS 2044 2035* Notified Amount 1000 1000 1000 1500 Tenor 11 -Years 15 -Years 19 -Years 10 -Years Competitive Bids Received (i) No. 60 79 81 37 (ii) Amount 3535 3561 3680 1625 Cut-off Yield (%) 7.35 7.53 7.59 7.40 Cut off Price (₹) 100 100 100 100 Competitive Bids Accepted (i) No. 18 35 42 29 (ii) Amount 915.051 900 969.554 830 Partial Allotment Percentage of Competitive Bids (i) Percentage 91.2460 60.6452 9.0667 (ii) No. 6 6 7 Non - Competitive Bids Received (i) No. 13 15 5 9 (ii) Amount 84.949 117.400 30.446 79.974 Non-Competitive 100.14 100.24 100.37 100.56 Price (₹) Non-Competitive Bids Accepted (i) No. 13 15 5 9 (ii) Amount 84.949 100 30.446 79.974 Partial Allotment Percentage of Non-Competitive Bids Percentage 85.1789 Weighted Average 7.3314 7.5035 7.5531 7.3207 Yield (%)2 Total Allotment 1000 1000 1000 909.974 Amount GUJARAT HIMACHAL MADHYA PRADESH MADHYA PRADESH SGS 2034 PRADESH SGS 2029 SGS 2033 SGS 2038 Notified Amount 1000 350 1000 1000 Tenor 9 -Years 4 -Years 8 -Years 13 -Years Competitive Bids Received (i) No. 69 11 42 71 (ii) Amount 3565 1320 2990 4768 Cut-off Yield (%) 7.17 6.75 7.20 7.44 Cut off Price (₹) 100 100 100 100 Competitive Bids Accepted (i) No. 33 8 27 35 (ii) Amount 928.537 337.961 954.464 906.484 Partial Allotment Percentage of Competitive Bids (i) Percentage 52.8079 47.9889 59.7320 68.7782 (ii) No. 10 1 4 3 Non - Competitive Bids Received (i) No. 12 5 9 13 (ii) Amount 71.463 12.039 45.536 93.516 Non-Competitive 100.11 100.14 100.23 100.30 Price (₹) Non-Competitive Bids Accepted (i) No. 12 5 9 13 (ii) Amount 71.463 12.039 45.536 93.516 Partial Allotment Percentage of Non-Competitive Bids Percentage Weighted 7.1538 6.7092 7.1610 7.4035 Average Yield (%) Total Allotment 1000 350 1000 1000 Amount3 MADHYA PRADESH MAHARASHTRA MAHARASHTRA MAHARASHTRA SGS 2048 SGS 2034 SGS 2040 SGS 2029 N otified Amount 1000 1000 1000 1000 Tenor 23 -Years 9 -Years 15 -Years Re-issue of 6.74% MAHARASHTRA SGS 2029 issued on 10-SEP-2025 Competitive Bids Received (i) No. 50 61 100 44 (ii) Amount 3305 3370 5458.55 3345 Cut-off Yield (%) 7.54 7.20 7.43 6.5809 Cut off Price (₹) 100 100 100 100.51 Competitive Bids Accepted (i) No. 5 36 27 14 (ii) Amount 929.670 953.768 925.724 999.868 Partial Allotment Percentage of Competitive Bids (i) Percentage 88.9670 32.5120 62.1278 65.6389 (ii) No. 1 5 10 2 Non - Competitive Bids Received (i) No. 8 11 11 2 (ii) Amount 70.330 46.232 74.276 0.132 Non-Competitive 100.01 100.20 100.11 100.54 Price (₹) Non-Competitive Bids Accepted (i) No. 8 11 11 2 (ii) Amount 70.330 46.232 74.276 0.132 Partial Allotment Percentage of Non- Competitive Bids Percentage Weighted Average 7.5391 7.1687 7.4179 6.5718 Yield (%) Total Allotment 1000 1000 1000 1000 Amount4 MEGHALAYA SGS PUNJAB SGS RAJASTHAN TAMILNADU SGS 2035 2035 SGS 2035 2032 N otified Amount 500 1000 1000 1000 Tenor 10 -Years 10 -Years 10 -Years 7 -Years Competitive Bids Received (i) No. 24 49 45 35 (ii) Amount 765 1684.500 2825 3305 Cut-off Yield (%) 7.44 7.49 7.24 7.09 Cut off Price (₹) 100 100 100 100 Competitive Bids Accepted (i) No. 18 37 3 17 (ii) Amount 483.078 913.894 900 961.687 Partial Allotment Percentage of Competitive Bids (i) Percentage 10.7340 38.6035 76.1905 86.0680 (ii) No. 2 4 2 2 Non - Competitive Bids Received (i) No. 6 13 13 9 (ii) Amount 16.922 86.106 118.284 38.313 Non-Competitive 100.62 100.28 100.04 100.14 Price (₹) Non-Competitive Bids Accepted (i) No. 6 13 13 9 (ii) Amount 16.922 86.106 100 38.313 Partial Allotment Percentage of Non- Competitive Bids Percentage 84.5423 Weighted Average 7.3519 7.4496 7.2344 7.0649 Yield (%) Total Allotment 500 1000 1000 1000 Amount5 TAMILNADU SGS TAMILNADU TAMILNADU SGS TELANGANA 2033 SGS 2035 2055 SGS 2039 N otified Amount 1000 1000 1000 1500 Tenor 8 -Years 10 -Years 30 -Years 14 -Years Competitive Bids Received (i) No. 37 51 28 76 (ii) Amount 3075 3675 3530 3678 Cut-off Yield (%) 7.18 7.20 7.52 7.49 Cut off Price (₹) 100 100 100 100 Competitive Bids Accepted (i) No. 18 12 2 35 (ii) Amount 969.423 920.973 959.425 1350 Partial Allotment Percentage of Competitive Bids (i) Percentage 18.8460 77.4049 94.5246 85.6250 (ii) No. 2 6 2 6 Non - Competitive Bids Received (i) No. 7 10 6 16 (ii) Amount 30.577 79.027 40.575 160.013 Non-Competitive 100.19 100.01 100 100.28 Price (₹) Non-Competitive Bids Accepted (i) No. 7 10 6 16 (ii) Amount 30.577 79.027 40.575 150 Partial Allotment Percentage of Non- Competitive Bids Percentage 93.7424 Weighted Average 7.1482 7.1988 7.5200 7.4571 Yield (%) Total Allotment 1000 1000 1000 1500 Amount6 TELANGANA SGS TELANGANA TELANGANA UTTAR PRADESH 2044 SGS 2046 SGS 2052 SGS 2036 N otified Amount 1500 1500 1500 1500 Tenor 19 -Years 21 -Years 27 -Years 11 -Years Competitive Bids Received (i) No. 67 37 27 63 (ii) Amount 2535 3165 4475 4495 Cut-off Yield (%) 7.68 7.55 7.52 7.36 Cut off Price (₹) 100 100 100 100 Competitive Bids Accepted (i) No. 58 10 4 29 (ii) Amount 1350 1454.959 1429.620 1376.944 Partial Allotment Percentage of Competitive Bids (i) Percentage 20 69.0736 92.6901 4.2610 (ii) No. 4 3 2 3 Non - Competitive Bids Received (i) No. 14 6 8 13 (ii) Amount 174.750 45.041 70.380 123.056 Non-Competitive 100.92 100.09 100 100.25 Price (₹) Non-Competitive Bids Accepted (i) No. 14 6 8 13 (ii) Amount 150 45.041 70.380 123.056 Partial Allotment Percentage of Non- Competitive Bids Percentage 85.8369 Weighted Average 7.5873 7.5418 7.5198 7.3271 Yield (%) Total Allotment 1500 1500 1500 1500 Amount7 UTTAR PRADESH WEST BENGAL WEST BENGAL Total SGS 2040 SGS 2037# SGS 2042 N otified Amount 1500 2000 2000 31350 Tenor 15 -Years 12 -Years 17 -Years Competitive Bids Received (i) No. 115 55 117 1531 (ii) Amount 5786 2170 5620 91306.050 Cut-off Yield (%) 7.51 7.50 7.56 - Cut off Price (₹) 100 100 100 - Competitive Bids Accepted (i) No. 51 35 40 678 (ii) Amount 1350 775 1800 27546.084 Partial Allotment Percentage of Competitive Bids (i) Percentage 65.4795 7.8740 - (ii) No. 9 8 - Non - Competitive Bids Received (i) No. 20 17 18 289 (ii) Amount 201.066 190.019 328.722 2429.144 Non-Competitive 100.17 100.38 100.16 - Price (₹) Non-Competitive Bids Accepted (i) No. 20 17 18 289 (ii) Amount 150 190.019 200 2178.909 Partial Allotment Percentage of Non- Competitive Bids Percentage 74.6024 60.8417 - Weighted Average 7.4907 7.4514 7.5435 - Yield (%) Total Allotment 1500 965.019 2000 29724.993 Amount *Bihar has accepted partial amount of ₹909.974 crore in the 10 -year security. #West Bengal has accepted partial amount of ₹965.019 crore in the 12-year security. Ajit Prasad Press Release: 2025-2026/1614 Deputy General Manager (Communications)

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