Indian states secured ₹18,963 crore in debt funding as auctions saw mixed participation, with yields peaking at 8.28% across various tenors and re-issued securities.
The article details the results of a state government securities (SGS) auction where multiple states sought to raise a total of ₹23,300 crore, with an actual acceptance of ₹18,963.348 crore. The data highlights varying investor demand and pricing strategies, evidenced by states like Gujarat, Jharkhand, Keralam, and Sikkim failing to accept any bids for specific tranches, while others like Tamil Nadu successfully placed large volumes at yields ranging from 7.95% to 8.28%.
The total amount accepted across all states was ₹18,963.348 crore out of a total target of ₹23,300 crore.
Tamil Nadu had the highest volume, with a total of ₹9,000 crore accepted across four different re-issued securities.
Indian states successfully raised ₹18,963.35 crore through the latest auction of State Government Securities (SGS). While the total target was ₹23,300 crore, several states including Gujarat, Jharkhand, and Kerala opted not to accept bids, while others like Assam and Nagaland saw partial acceptances. Yields across the issued securities ranged from 7.96% to 8.28%, reflecting current market pricing for long-term state debt.
The auction results provide insight into the borrowing costs and liquidity appetite for individual Indian states, with yields serving as a benchmark for regional sovereign debt.