NE BUSINESS BUREAU
MUMBAI, DEC 26
Twelve states on Tuesday raised Rs 20,759 crore, against a notified amount of Rs 24,849 crore through the last auction of state government securities for the current quarter. In the previous week, 13 states had raised Rs 19,692 crore.
- 12 states raise Rs. 20,759 crore through auction
- The cut-off yield on the 10-year state bond was set in a range of 7.66-7.67 per cent, compared to 7.62-7.63 per cent in the previous week
Data from the Reserve Bank of India (RBI) showed that Tamil Nadu raised the highest amount of Rs 6,000 crore.
Tamil Nadu secured Rs 6,000 crore through two papers – Rs 3,000 crore through a 10-year paper with a cut-off yield of 7.66 per cent, and Rs 3,000 crore through a 30-year paper with a cut-off yield of 7.56 per cent.
The cut-off yield on the 10-year state bond was set in a range of 7.66-7.67 per cent, compared to 7.62-7.63 per cent in the previous week.
Meanwhile, the yield spread between the 10-year State Development Loans (SDLs) and the benchmark 10-year government bond stood between 48-49 basis points, wider than the range of 45-46 basis points in the previous week.
