Auction for Andhra Pradesh and Delhi State Government Securities on November 3, 2026, was fully subscribed, with total acceptances of ₹4,000 crore for Andhra and ₹1,000 crore for Delhi. Yields ranged between 7.889% and 8.146%, reflecting investor appetite for state debt amid stable fiscal sentiment.
State Government Securities Auction Fully Subscribed
On November 3, 2026, the Reserve Bank of India conducted a yield/price-based auction for re-issued State Government Securities (SGS) of Andhra Pradesh and Delhi. The auction was fully subscribed, with ₹1,000 crore accepted for Andhra Pradesh SGS 2035 at a yield of 8.0089% and ₹2,000 crore for SGS 2056 at 8.1463%. For Delhi, ₹500 crore was accepted each for SGS 2036 and 2041, both at a yield of 7.8890%.
The successful auction reflects continued investor confidence in state-level borrowing programs, despite varying fiscal health across states. The re-issue of securities indicates active liquidity management in the secondary market and ongoing refinancing needs. Yields remained competitive, aligning with recent trends in G-Sec yields and market expectations of a stable interest rate regime.
For legal advisors in public finance and institutional investment, these results highlight the growing depth of sub-sovereign debt markets in India. The regularity and transparency of these auctions support the use of state securities in portfolio management, collateral frameworks, and repo transactions under regulatory schemes.
