**Executive Summary**
This document details the results of the auction of State Government Securities held on November 4, 2025. It specifies the notified amounts, tenors, and auction outcomes for various State Government Securities, including those from Andhra Pradesh, Goa, Kerala, Maharashtra, Rajasthan, Tamil Nadu, and Telangana. The document outlines the cut-off yields, accepted bid amounts, and weighted average yields for both competitive and non-competitive bids.
**Key Points / Main Content**
* **Auction Overview:**
* The auction results are for State Government Securities (SGS).
* The auction took place on November 4, 2025.
* **State Government Securities Details:**
* **Andhra Pradesh:**
* SGS 2037 (12-year tenor, ₹1000 Crore notified amount)
* SGS 2045 (Re-issue, ₹1000 Crore notified amount)
* SGS 2046 (Re-issue, ₹1000 Crore notified amount)
* **Goa:**
* SGS 2036 (11-year tenor, ₹100 Crore notified amount)
* **Kerala:**
* SGS 2045 (20-year tenor, ₹2000 Crore notified amount)
* **Maharashtra:**
* SGS 2036 (Re-issue, ₹1000 Crore notified amount)
* SGS 2042 (Re-issue, ₹1000 Crore notified amount)
* SGS 2050 (Re-issue, ₹1000 Crore notified amount, No amount accepted)
* SGS 2055 (Re-issue, ₹1000 Crore notified amount, No amount accepted)
* **Rajasthan:**
* SGS 2029 (4-year tenor, ₹500 Crore notified amount)
* **Tamil Nadu:**
* SGS 2035 (10-year tenor, ₹1000 Crore notified amount)
* SGS 2055 (30-year tenor, ₹2000 Crore notified amount)
* **Telangana:**
* SGS 2057 (32-year tenor, ₹1000 Crore notified amount)
* Details for each SGS includes notified amount, tenor, cut-off yield, accepted bid amounts, non-competitive bid details, partial allotment percentages, and weighted average yield.
* **Competitive and Non-Competitive Bids:**
* Data provided for the number and amount of competitive bids received and accepted.
* Details provided for cut-off yield and cut-off price for competitive bids.
* Information on non-competitive bids received, accepted, and the non-competitive price.
* Partial allotment percentages are specified for both competitive and non-competitive bids.
* **Total Allotment:**
* The total allotment amount is specified for each SGS.
* The total allotment amount across all SGS is ₹11600 Crore.
**Impact Analysis**
**Stakeholder: State Governments (Andhra Pradesh, Goa, Kerala, Maharashtra, Rajasthan, Tamil Nadu, and Telangana)**
* **Impact**: The auction results determine the amount of funds raised through the issuance of State Government Securities and the interest rates they will pay on those funds.
* **Action Required**: State governments need to manage their finances based on the funds raised and the associated interest obligations.
**Stakeholder: Bidders (Banks, Financial Institutions, etc.)**
* **Impact**: The auction results determine the allotment of securities and the yields they will receive on their investments.
* **Action Required**: Bidders need to manage their investment portfolios based on the securities allotted to them and the prevailing market conditions.
**Stakeholder: Reserve Bank of India (RBI)**
* **Impact**: The auction results impact the RBI's monetary policy operations and its role in managing government debt.
* **Action Required**: The RBI needs to analyze the auction results and adjust its policies as necessary to maintain financial stability.
Key Entities Referenced
State Government Securities: Securities issued by state governments, sold through auctions.
Reserve Bank of India: The central bank of India, responsible for conducting auctions of State Government Securities.
ANDHRA PRADESH SGS 2037: State Government Security of Andhra Pradesh maturing in 2037.
ANDHRA PRADESH SGS 2045, ANDHRA PRADESH SGS 2046: Re-issue of State Government Security of Andhra Pradesh maturing in 2045 and 2046.
GOA SGS 2036: State Government Security of Goa maturing in 2036.
KERALA SGS 2045: State Government Security of Kerala maturing in 2045.
MAHARASHTRA SGS 2036, MAHARASHTRA SGS 2042, MAHARASHTRA SGS 2050, MAHARASHTRA SGS 2055: Re-issue of State Government Security of Maharashtra maturing in 2036, 2042, 2050 and 2055.
RAJASTHAN SGS 2029: State Government Security of Rajasthan maturing in 2029.
TAMILNADU SGS 2035, TAMILNADU SGS 2055: State Government Security of Tamilnadu maturing in 2035 and 2055.
TELANGANA SGS 2057: State Government Security of Telangana maturing in 2057.