New Delhi : The Reserve Bank of India (RBI) has announced that multiple state governments will raise a total of Rs 45,960 crore through a State Government Securities (SGS) auction scheduled for March 10, 2026.
The auction will be conducted electronically via the RBI’s E-Kuber platform and will include both fresh issuances and re-issues of existing securities, with varying tenors and structures.
Among the participating states:
- Andhra Pradesh: Rs 3,000 crore across 13-, 15-, and 17-year tenors
- Arunachal Pradesh: Rs 190 crore, 20-year tenor
- Assam: Rs 900 crore, 15-year tenor
- Delhi: Rs 1,000 crore, 10-year tenor
- Gujarat: Rs 2,000 crore across 7.5- and 11-year tenors, with additional borrowing options
- Haryana: Rs 3,000 crore across 4-, 12-, and 18-year tenors
- Jammu & Kashmir: Rs 900 crore, 15-year tenor
- Karnataka: Rs 10,000 crore, including re-issues of 7.31% SGS 2033, 7.38% SGS 2034, 7.48% SGS 2037, and other 10.5- and 14-year tenors
Other participants include Kerala (Rs 1,000 crore, 23-year), Madhya Pradesh (Rs 5,800 crore, 10-, 14-, and 21-year), Mizoram (Rs 120 crore, 15-year), Sikkim (Rs 250 crore, 10-year), Punjab (Rs 2,000 crore, re-issue of 7.62% SGS 2032), Tamil Nadu (Rs 8,000 crore, mix of fresh and re-issued securities including 7.23% SGS 2033 and 7.63% SGS 2056), Tripura (Rs 800 crore, 15-year), Uttar Pradesh (Rs 3,500 crore, re-issues maturing 2037–2046), and West Bengal (Rs 3,500 crore, 18- and 22-year tenors).
Competitive bids for the auction will be accepted from 10:30 am to 11:30 am, and non-competitive bids from 10:30 am to 11:00 am. Up to 10% of each stock is reserved for eligible individuals and institutions under non-competitive bidding, with a maximum 1% per stock per bidder. Retail investors can participate via the RBI Retail Direct portal.
Auction results will be announced on March 10, with successful bidders required to make payments during banking hours on March 11, 2026.