India's latest government bond auction saw full subscription across all tranches, with yields ranging from 6.7688% to 7.6895% and zero devolvement, reflecting steady investor appetite.
Auction of the 6.20% GS 2029 was fully subscribed at a cut-off yield of 6.7688% with no devolvement, indicating stable demand.
Auction of the 6.57% GS 2033 was fully subscribed at a cut-off yield of 7.1680% with no devolvement, reflecting steady investor appetite.
Auction of the 7.63% GS 2056 was fully subscribed at a cut-off yield of 7.6895% with no devolvement, indicating normal long-term borrowing conditions.
Auction of the 7.50% GOI Sovereign Green Bond 2056 was fully subscribed at a cut-off yield of 7.6539% with no devolvement, showing stable green bond demand.
The Reserve Bank of India successfully auctioned 33,000 crore in government securities across four tranches. All issues, including the 6.20% GS 2029 and the 7.50% Sovereign Green Bond 2056, were fully subscribed with no devolvement on primary dealers, signaling stable market demand for sovereign debt.
Zero devolvement means that primary dealers were not required to purchase any unsold portion of the auction, as the market demand fully covered the notified amount.