Mumbai, Jan. 27 -- State governments raised Rs 38,300 crore at the latest yield- and price-based auction of State Government Securities held on January 27, according to data released by the Reserve Bank of India, with most of the notified amount finding takers despite elevated yields.

The auction had a notified amount of Rs 39,800 crore, of which Rs 38,300 crore was accepted. Maharashtra did not accept any bids for the re-issue of its 7.48% State Government Security maturing in 2045, while all other issuances saw full acceptance.

Karnataka was the largest borrower, mobilising Rs 6,000 crore across three tranches. This included a 5.5-year paper at a cut-off yield of 7.15%, a re-issue of the 7.32% Karnataka SGS 2033 at a yield of 7.3407%,...