State governments raised an aggregate Rs 26,815 crore at the latest yield- and price-based auction of State Government Securities held on January 13, with the entire notified amount accepted across all states and maturities.
Assam raised Rs 1,000 crore through a 12-year security at a cut-off yield of 7.65%. Bihar mobilised Rs 3,000 crore via two tranches of 18-year and 25-year papers, both clearing at 7.65%.
Chhattisgarh raised Rs 2,000 crore through 10-year and 11-year securities at yields of 7.54% and 7.56%, respectively. Haryana borrowed Rs 2,000 crore through 13-year and 17-year tenors at yields of 7.60% and 7.61%.
Karnataka was among the largest borrowers, raising Rs 6,000 crore through a mix of fresh issuances and re-issues. This included a 6.5-year paper at 7.25%, a re-issue of its 7.16% 2031 bond at a yield of 7.1103%, and a re-issue of the 7.51% 2036 bond at 7.4999%.
Mizoram raised Rs 115 crore through a 15-year security at 7.65%, while Punjab mobilised Rs 2,000 crore via a five-year paper at 7.48%.
Tamil Nadu raised Rs 4,700 crore across three maturities, including a 10-year bond at 7.50%, a re-issue of its 7.50% 2037 security at 7.5403%, and a re-issue of its 7.58% 2056 bond at 7.6113%.
Telangana raised Rs 2,000 crore through 16-year and 26-year securities, both clearing at 7.61%. Uttarakhand raised Rs 1,000 crore through a re-issue of its 6.74% 2035 bond at a yield of 7.5395%.
West Bengal raised Rs 3,000 crore across 11-year, 16-year and 20-year tenors, with yields ranging between 7.59% and 7.64%.
The full acceptance of notified amounts suggests steady demand for state government paper despite elevated yield levels, indicating sustained investor appetite for longer-dated state bonds.