State governments raised a total of Rs 35,450 crore at the latest yield- and price-based auction of State Government Securities held on 30 December 2025, according to data released by the Reserve Bank of India. All states saw full acceptance of their notified amounts, reflecting steady investor demand across maturities.
Andhra Pradesh raised Rs 4,000 crore through four tranches with tenors ranging from 9 to 17 years, at cut-off yields between 7.37% and 7.54%. Assam mobilised Rs 1,000 crore via a 20-year bond at a yield of 7.56%, while Bihar raised Rs 1,400 crore through a 6-year security at 7.42%.
Haryana and Himachal Pradesh each raised Rs 1,000 crore through 15-year bonds at yields of 7.54% and 7.56%, respectively. Karnataka mobilised Rs 6,000 crore across four maturities, including re-issues of its 2032 and 2033 securities and fresh issuances of 11- and 13-year bonds, with yields ranging from 7.18% to 7.53%.
Kerala raised Rs 2,000 crore through a 19-year bond at 7.56%. Madhya Pradesh mobilised Rs 3,400 crore across 5-, 11- and 21-year tenors, with yields between 7.02% and 7.54%. Manipur raised Rs 150 crore through a 13-year bond at 7.54%.
Rajasthan borrowed Rs 3,000 crore through three tranches, including a re-issue of its 2035 security, with yields ranging from 6.90% to 7.53%. Tamil Nadu raised Rs 6,000 crore across four maturities, including re-issues of its 2031 and 2034 securities, at yields between 6.86% and 7.42%.
Telangana raised Rs 1,000 crore through an 11-year bond at 7.52%, while Tripura mobilised Rs 500 crore via a 15-year security at 7.54%. Uttarakhand raised Rs 1,000 crore through a re-issue of its 2035 bond at a yield of 7.54%. West Bengal rounded out the auction by raising Rs 4,000 crore across 17- and 21-year maturities at yields of 7.57% to 7.58%.
Overall, yields largely clustered in the 7.0% to 7.6% range, indicating stable appetite for state government paper amid prevailing interest rate conditions.