According to a Central Bank release, the securities will be issued through an auction conducted on RBI’s core banking solution platform, e-Kuber. The auction includes borrowings by several states and union territories, of various tenors and structures, including both fresh issues and re-issues of existing securities.
Among the participating states, Andhra Pradesh through three securities with tenors of 13, 15 and 17 years Rs. 3,000 crore plans to raise. Arunachal Pradesh will raise Rs 190 crore with a 20-year tenure, while Assam will borrow Rs 900 crore through a 15-year security. Delhi will raise Rs 1,000 crore through a 10-year security.
Gujarat through two securities with tenors of seven years and six months and 11 years Rs. 2,000 crore to be raised, for each Rs. 500 crore with an additional borrowing option. Haryana in four, 12 and 18 year periods Rs. 3,000 crore securities will be issued. Meanwhile, Jammu and Kashmir will borrow Rs 900 crore with a tenure of 15 years.
Karnataka will be the largest borrower in the auction, raising Rs. 10,000 crore will be collected. These include 7.31 percent Karnataka SGS 2033, 7.38 percent Karnataka SGS 2034, and 7.48 percent Karnataka SGS 2037, among other securities with tenors of 10 years six months and 14 years.
Other states participating in the auction include Kerala, which through a 23-year security of Rs. 1,000 crore, and Madhya Pradesh, which through securities with tenors of 10, 14 and 21 years will raise Rs. 5,800 crore will be borrowed. A small issue by Mizoram with a tenure of 15 years Rs. 120 crore and by Sikkim with a tenure of 10 years Rs. 250 crores included.
Punjab 7.62 per cent through re-issue of Punjab SGS 2032 at Rs. 2,000 crore, which was originally issued in November 2022. Tamil Nadu through a combination of fresh issue and reissued securities of Rs. 8,000 crore, comprising 7.23 percent and Na7233 SGS. Percent Tamil Nadu SGS 2056.
Additionally, Tripura through a 15-year security of Rs. 800 crore, while Uttar Pradesh will raise Rs. 3,500 crore will be collected. West Bengal 128-year securities with 28-year tenure of Rs. 3,500 crore plans to borrow.
The RBI said that both competitive and non-competitive bids for the auction must be submitted electronically on the e-Kuber system on March 10. Competitive bids will be accepted between 10:30 am to 11:30 am, while non-competitive bids will be accepted between 10:30 am and 11:00 am.
Up to 10 percent of the tender amount of each stock will be reserved for eligible individuals and entities under the non-competitive bidding facility, with a maximum limit of one percent for a single bid per stock. Retail investors can also participate through RBI’s Retail Direct portal.
The results of the auction will be declared on March 10, while successful bidders will have to pay during banking hours on March 11, 2026. (ANI)
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