New Delhi [India], November 11 (ANI): The Reserve Bank of India (RBI) on Tuesday announced the results of the yield and price-based auction of state government securities (SGSs), through which nine states and union territories raised a total of Rs 15,560 crore against a notified amount of Rs 16,560 crore.
According to the RBI release, the participating states included Bihar, Chhattisgarh, Jammu and Kashmir, Madhya Pradesh, Maharashtra, Mizoram, Tamil Nadu, Telangana, and Uttar Pradesh.
Bihar raised Rs 1,500 crore at a cut-off yield of 7.44 per cent for a 15-year tenor, while Chhattisgarh mobilised a total of Rs 1,500 crore through two re-issues, Rs 500 crore of 6.59 per cent Chhattisgarh SDL 2028 at a yield of 6.3876 per cent, and Rs 1,000 crore of 7.14 per cent Chhattisgarh SGS 2033 at 7.1408 per cent.
Jammu and Kashmir accepted Rs 450 crore at a yield of 7.46 per cent for 20 years, while Madhya Pradesh raised Rs 4,000 crore across three securities with yields ranging from 7.45 to 7.46 per cent and maturities of 16, 18, and 19 years, respectively.
Maharashtra mobilised Rs 2,000 crore, Rs 1,000 crore at 7.07 per cent for 8 years, and another Rs 1,000 crore at 7.25 per cent for 12 years. Mizoram raised Rs 110 crore at a yield of 7.14 per cent for 8 years.
From the southern states, Tamil Nadu accepted Rs 2,000 crore, including a re-issue of the 7.14 per cent Tamil Nadu SGS 2035 at a yield of 7.1100 per cent, but did not accept any bids for its proposed 15-year security. Telangana raised Rs 1,000 crore at 7.44 per cent for a 31-year tenor.
Among the larger states, Uttar Pradesh raised Rs 3,000 crore, Rs 1,500 crore at 7.02 per cent for 7 years, and another Rs 1,500 crore at 7.24 per cent for 11 years.
The auction results indicate a steady demand for long-term state debt instruments amid stable yield expectations across maturities. (ANI)
Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News
HINDI, MARATHI, GUJARATI, TAMIL, TELUGU, BENGALI, KANNADA, ORIYA, PUNJABI, URDU, MALAYALAM
For more details and packages
