Indian states raised 23,016 crore in debt auctions, with Andhra Pradesh failing to attract bids and Punjab seeing partial subscription, while other states successfully met their funding targets.
Auction for Andhra Pradesh SGS 2051 received no accepted bids, indicating failed issuance.
Goa SGS 2037 fully subscribed at cut-off price 97.84 with yield 8.1004%.
Gujarat SGS 2035 and a new 12-year security were fully subscribed with yields around 7.96-8.06%.
Madhya Pradesh SGS issues across tenors were fully subscribed with yields ranging from 7.77% to 8.2370%.
Maharashtra SGS issues across multiple tenors were fully subscribed with yields from 7.9794% to 8.1845%.
Meghalaya SGS 2039 fully subscribed at cut-off price 99.45 with yield 8.1488%.
Punjab SGS 2035 was partially accepted (316.418 crore of 700 crore) while SGS 2043 was fully subscribed.
Rajasthan SGS issues across tenors were fully subscribed with yields from 8.04% to 8.23%.
Telangana SGS issues were fully subscribed with yields around 8.1466% and 8.1864%.
Tripura SGS issues were fully subscribed with yields of 8.03% and 8.19%.
Indian states successfully raised 23,016 crore through state government securities (SGS) auctions this week, though demand proved uneven. While most states achieved full subscription across various tenors, Andhra Pradesh failed to secure any bids for its 2051 security, and Punjab saw only partial acceptance for its 2035 issuance.
The auction for the 7.68% Andhra Pradesh SGS 2051 received no accepted bids, resulting in zero funds raised for that specific security.
Indian states collectively raised 23,016.418 crore against a total planned issuance of 24,400 crore.