Mumbai, Feb. 17 -- India's states tapped the bond market aggressively on 17 February 2026, collectively raising Rs 39,450 crore through a yield based auction of State Government Securities. The notified amount was Rs 37,900 crore, but select states opted to accept additional bids, reflecting healthy investor appetite across maturities.

The biggest boost came from Gujarat and Maharashtra, both of which exercised the greenshoe option to mop up more than initially planned.

Gujarat accepted Rs 1,500 crore against a notified Rs 1,000 crore in its 5 year and 6 month security at a cut off yield of 6.98%, taking in an extra Rs 500 crore.

Maharashtra raised Rs 1,850 crore each across three re issuances, exceeding the notified Rs 1,500 crore per...