The government successfully completed the auction of its new 10-year security maturing in 2035, mobilising Rs 32,000 crore. The cut-off yield was set at 6.48%.
The auction attracted strong investor demand, with 365 competitive bids worth Rs 1.39 lakh crore received against the notified amount of Rs 32,000 crore. Of these, 136 bids were accepted, aggregating to Rs 31,988 crore. Partial allotment was made in 114 bids at a ratio of 50.26%.
The weighted average yield stood marginally lower at 6.4782%, with the weighted average price at Rs 100.01.
Non-competitive bids saw limited participation, with five bids worth Rs 11.7 crore, all of which were accepted in full.
The entire underwriting amount of Rs 32,000 crore was accepted from primary dealers, while there was no devolvement.