Mumbai, Nov. 25 -- State governments tapped the bond market for fresh funding on 25 November 2025, raising Rs 25,067.20 crore through a mix of new issuances and re-issues in a yield and price-based auction of State Development Loans (SDLs) conducted by the Reserve Bank of India.

Bihar opened the line-up with a full acceptance of Rs 1,500 crore at a 20-year maturity, priced at a yield of 7.46%. Chhattisgarh opted for a more selective approach, taking only Rs 500 crore of its 10-year offering at 7.19% while fully accepting Rs 1,000 crore through a re-issue of its 7.34% 2040 security at a cut-off price of 99.01 and a yield of 7.45%.

Gujarat secured Rs 2,500 crore across two tranches, locking in a 7-year bond at 6.98% and an 8-year paper at...