States raised Rs 13,600 crore through a yield and price-based auction of State Government Securities (SGS) held on 18 November 2025, according to data released by the Reserve Bank of India.
Arunachal Pradesh mobilised Rs 200 crore through a 20-year bond at a 7.50% yield. Gujarat raised Rs 1,500 crore via a 6-year security at 6.84%. Himachal Pradesh collected Rs 300 crore through a 15-year bond at 7.45%.
Rajasthan accepted Rs 2,500 crore across three tenors. It raised Rs 500 crore for a 5-year bond at 6.75%, Rs 1,000 crore for a 10-year security at 7.16%, and another Rs 1,000 crore for a 12-year bond at 7.29%.
Tamil Nadu garnered Rs 4,000 crore across four issuances. It raised Rs 1,000 crore at 6.55% for a 4-year tenor, Rs 1,000 crore at 7.16% for a 10-year bond, and Rs 1,000 crore at 7.20% for an 11-year security. It also raised Rs 1,000 crore through a re-issue of its 7.01% Tamil Nadu SGS 2032 at a yield of 7.0206%.
Telangana mobilised Rs 2,100 crore. It raised Rs 1,100 crore via a 26-year bond at 7.50% and Rs 1,000 crore via a 27-year security at the same yield.
Uttar Pradesh collected Rs 3,000 crore across two tranches. It raised Rs 1,500 crore for an 8-year bond at 7.12% and Rs 1,500 crore for a 10-year security at 7.18%.
In total, all participating states accepted the full notified amount of Rs 13,600 crore.