The Reserve Bank of India released the results of the State Government Securities auction held on July 28, 2026. The auction covered securities issued by Andhra Pradesh, Gujarat, Maharashtra, Punjab, Rajasthan, Tamil Nadu and Telangana.
According to the RBI release, the total notified amount was ₹18,100 crore. The total allotment amount stood at ₹19,280.094 crore after additional and partial acceptances in some securities.
The auction drew 1,047 competitive bids for ₹68,254.749 crore. RBI accepted 204 competitive bids amounting to ₹18,264.835 crore. In the non-competitive segment, 118 bids were received for ₹1,024.012 crore, of which ₹1,015.259 crore was accepted.
Major allotments announced by RBI
Andhra Pradesh received allotments in two securities. The Andhra Pradesh SGS 2039 was allotted ₹1,000 crore at a cut-off yield of 7.6105%, with a weighted average yield of 7.5957%. The Andhra Pradesh SGS 2051 was allotted ₹1,600 crore at a cut-off yield of 7.68%, with a weighted average yield of 7.6703%.
Gujarat had two re-issued securities in the auction. Gujarat SGS 2035 was allotted ₹1,000 crore, with a cut-off yield of 7.3685% and a weighted average yield of 7.3546%. Gujarat SGS 2038 was also allotted ₹1,000 crore, with a cut-off yield of 7.4799% and a weighted average yield of 7.4774%.
Maharashtra received allotments across three securities. Maharashtra SGS 2031 was allotted ₹1,250 crore at a cut-off yield of 6.9911%. Maharashtra SGS 2039 was allotted ₹3,000 crore at 7.5682%, while Maharashtra SGS 2049 was allotted ₹2,000 crore at 7.6738%.
Punjab’s SGS 2030 saw a total allotment of ₹730.094 crore at a cut-off yield of 7.1750%. Punjab SGS 2039 was allotted ₹1,200 crore at a cut-off yield of 7.6892%.
Rajasthan, Tamil Nadu and Telangana results
Rajasthan SGS 2044 was allotted ₹1,500 crore at a cut-off yield of 7.68% and a weighted average yield of 7.6790%. Rajasthan SGS 2053 was allotted ₹2,000 crore at a cut-off yield of 7.6783%, with a weighted average yield of 7.6730%.
Tamil Nadu had two securities in the result. Tamil Nadu SGS 2034 was allotted ₹1,000 crore at a cut-off yield of 7.3808%. Tamil Nadu SGS 2041 was allotted ₹1,000 crore at a cut-off yield of 7.5872%.
Telangana SGS 2055 was allotted ₹1,000 crore. The cut-off yield and weighted average yield for this security were both 7.6691%.
Additional and partial amounts
RBI noted that Maharashtra accepted additional amounts in all three of its listed re-issues: ₹250 crore in Maharashtra SGS 2031, ₹600 crore in Maharashtra SGS 2039, and ₹400 crore in Maharashtra SGS 2049. These securities were originally issued on April 8, 2026.
For Punjab, the release stated that a partial amount of ₹730.094 crore was accepted in the re-issue of 7.02% Punjab SGS 2030, originally issued on July 1, 2026. Punjab also accepted an additional ₹200 crore in the re-issue of 7.62% Punjab SGS 2039, also issued on July 1, 2026.
The RBI press release was issued by Ajit Prasad, Deputy General Manager in the Communications department, under Press Release number 2026-2027/772.
Source: Reserve Bank of India Press Releases.