Mumbai, Feb. 3 -- State governments raised a total of Rs 38,050 crore at the yield- and price-based auction of State Government Securities held on February 3, data released by the Reserve Bank of India showed. The amount accepted exceeded the notified Rs 36,500 crore, reflecting firm investor demand across maturities.

Excess acceptance was driven by strong demand for select state papers, particularly from Gujarat and Maharashtra, where issuers raised more than the notified amounts.

Andhra Pradesh raised Rs 3,300 crore across three tranches, including a re-issue of its 7.48% SGS 2035 at a yield of 7.5418%, along with fresh 13-year and 15-year bonds at yields of 7.68% and 7.71%, respectively. Assam mobilised Rs 1,000 crore through a 15-ye...