Press release 🌐 Macro 🌍 India

Indian States Raise 23,016 Crore in Debt Auction as Andhra Pradesh Fails

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.

🕐 1 min read

10 assets impacted. Net bias: 0 Bullish, 0 Bearish, 10 Neutral. Strongest signal: ANDHRA_PRADESH_SGS → 3/10 (70% confidence).

📊 Affected Assets (10)

ANDHRA_PRADESH_SGS
Neutral 🤖 70%
📅 Short-term 🌍 IN · Explicit

Auction for Andhra Pradesh SGS 2051 received no accepted bids, indicating failed issuance.

GOA_SGS
Neutral 🤖 70%
📅 Short-term 🌍 IN · Explicit

Goa SGS 2037 fully subscribed at cut-off price 97.84 with yield 8.1004%.

GUJARAT_SGS
Neutral 🤖 70%
📅 Short-term 🌍 IN · Explicit

Gujarat SGS 2035 and a new 12-year security were fully subscribed with yields around 7.96-8.06%.

MADHYA_PRADESH_SGS
Neutral 🤖 70%
📅 Short-term 🌍 IN · Explicit

Madhya Pradesh SGS issues across tenors were fully subscribed with yields ranging from 7.77% to 8.2370%.

MAHARASHTRA_SGS
Neutral 🤖 70%
📅 Short-term 🌍 IN · Explicit

Maharashtra SGS issues across multiple tenors were fully subscribed with yields from 7.9794% to 8.1845%.

MEGHALAYA_SGS
Neutral 🤖 70%
📅 Short-term 🌍 IN · Explicit

Meghalaya SGS 2039 fully subscribed at cut-off price 99.45 with yield 8.1488%.

PUNJAB_SGS
Neutral 🤖 70%
📅 Short-term 🌍 IN · Explicit

Punjab SGS 2035 was partially accepted (316.418 crore of 700 crore) while SGS 2043 was fully subscribed.

RAJASTHAN_SGS
Neutral 🤖 70%
📅 Short-term 🌍 IN · Explicit

Rajasthan SGS issues across tenors were fully subscribed with yields from 8.04% to 8.23%.

TELANGANA_SGS
Neutral 🤖 70%
📅 Short-term 🌍 IN · Explicit

Telangana SGS issues were fully subscribed with yields around 8.1466% and 8.1864%.

TRIPURA_SGS
Neutral 🤖 70%
📅 Short-term 🌍 IN · Explicit

Tripura SGS issues were fully subscribed with yields of 8.03% and 8.19%.

🎯 Key Takeaways

  • Andhra Pradesh failed to raise funds in its 7.68% SGS 2051 auction, receiving no accepted bids.
  • Punjab accepted only 316.418 crore of its 700 crore target for the 7.75% SGS 2035 security.
  • Total issuance across all states reached 23,016 crore out of a planned 24,400 crore.

📝 Executive Summary

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.

❓ FAQ

Why did Andhra Pradesh fail to raise funds in the latest auction?

The auction for the 7.68% Andhra Pradesh SGS 2051 received no accepted bids, resulting in zero funds raised for that specific security.

What was the total amount raised by Indian states in this auction cycle?

Indian states collectively raised 23,016.418 crore against a total planned issuance of 24,400 crore.