States and Union Territories collectively raised Rs 54,834.40 crore in the State Government Securities (SDL) auction held on 24 March 2026, lower than the notified amount of Rs 57,408 crore, as several states opted for partial acceptance or rejected bids in select securities.
Andhra Pradesh raised Rs 3,900 crore across three long-term securities at yields of 7.83% (17-year), 7.88% (20-year) and 7.79% (25-year).
Assam did not accept any bids for its re-issued 2032 security, indicating lack of yield comfort.
Goa raised Rs 100 crore through a 12-year bond at a yield of 7.76%.
Gujarat raised Rs 2,630 crore across two securities after exercising greenshoe options, accepting Rs 1,235 crore at 7.44% (7.5-year) and Rs 1,395 crore at 7.45% (8.5-year).
Haryana mobilised Rs 2,000 crore across six-year and 13-year securities at yields of 7.42% and 7.76%, respectively.
Himachal Pradesh raised Rs 565 crore through a 15-year security at a yield of 7.89%, while Jammu and Kashmir raised Rs 1,262 crore via a 25-year bond at 7.79%.
Jharkhand raised Rs 2,000 crore through re-issued 2034 and 2036 securities at yields of 7.6003% and 7.6098%, respectively, but did not accept any bids for its re-issued 2032 paper.
Karnataka raised Rs 9,401.32 crore across five securities, including partial acceptance of Rs 1,401.32 crore in the five-year paper at 7.25%. Other issuances ranged between 7.61% and 7.76% across maturities up to 15 years.
Kerala raised Rs 2,200 crore across 10-year and 20-year securities at yields of 7.68% and 7.88%, respectively, while it rejected bids for its five-year paper.
Maharashtra raised Rs 3,530 crore across three securities, including Rs 1,500 crore in a 10-year bond at 7.57% after accepting an additional Rs 500 crore. It also raised Rs 1,500 crore through a re-issued 2052 security at 7.7830% and Rs 530 crore via a re-issued 2047 bond at 7.8187%.
Manipur and Meghalaya raised Rs 350 crore and Rs 253 crore at yields of 7.88% and 7.74%, respectively, while Nagaland accepted Rs 250.01 crore against Rs 600 crore in its five-year bond at 7.38%.
Puducherry raised Rs 150 crore through a nine-year security at 7.70%, and Punjab mobilised Rs 1,598 crore at 7.80% for a 10-year bond.
Rajasthan raised Rs 5,000 crore across three securities, including a five-year bond at 7.33%, a 10-year bond at 7.65% and a re-issued 2040 security at 7.7890%.
Sikkim raised Rs 400 crore via a 10-year security at a yield of 7.87%.
Tamil Nadu mobilised Rs 6,745.07 crore across five securities, including partial acceptance in a re-issued 2033 bond. Yields ranged between 7.24% and 7.7381% across maturities.
Uttar Pradesh raised Rs 5,500 crore across five securities, including re-issued bonds maturing between 2038 and 2041 and fresh long-term issuances at 20-year and 25-year tenors, with yields between 7.7394% and 7.88%.
Uttarakhand raised Rs 2,000 crore across nine-year and 20-year securities at yields of 7.63% and 7.88%.
West Bengal raised Rs 5,000 crore across 18-year, 21-year and 25-year securities at yields of 7.88%, 7.84% and 7.79%, respectively.
The auction reflected a mixed demand environment, with several states adjusting borrowings through partial acceptance or additional allotments, while yields largely ranged between 7.2% and 7.9% depending on tenor and investor appetite.