Indian state governments have announced auctions to raise a total of ₹31,200 crore through the sale of government securities, according to the Reserve Bank of India. The auctions include a mix of yield-based and price-based offerings with tenors ranging from 6 to 30 years. The auctions are scheduled following recent issuances earlier this year.
The states participating in the auction include Assam, Bihar, Chhattisgarh, Gujarat, Haryana, Karnataka, Kerala, Mizoram, Odisha, Tamil Nadu, Uttar Pradesh, Uttarakhand, and West Bengal. For example, Bihar is reissuing 7.71% SGS 2044 and 7.76% SGS 2051 bonds, while Tamil Nadu is offering securities with maturities of 20, 25, and 30 years. The auctions will be conducted through yield and price-based mechanisms depending on the state and security type, as detailed by the RBI.
This auction is part of the regular debt management strategy by Indian states to finance their budgetary requirements. The mix of long and medium-term securities reflects efforts to manage fiscal deficits while catering to investor demand. The ₹31,200 crore figure is significant compared to previous state government auctions, underscoring ongoing borrowing needs amid economic challenges and infrastructure investments.
The auction details, including amounts and tenors for each state, were published by the Reserve Bank of India on October 9, 2026. The RBI's official announcement provides the schedule and terms for investors interested in participating in these state government securities auctions.