Mumbai, May 15 -- India's sovereign bond auction witnessed strong investor demand on Friday, with the Reserve Bank of India receiving bids worth over Rs 69,700 crore across the re-issuance of the 6.36% Government Security 2031 and the new 2066 government bond.

The RBI had notified a total issuance of Rs 32,000 crore, comprising Rs 21,000 crore of the 6.36% GS 2031 and Rs 11,000 crore of the new GS 2066 security.

The 6.36% GS 2031 attracted competitive bids worth Rs 44,279.65 crore across 222 bids against the notified amount of Rs 21,000 crore, indicating robust appetite for shorter-duration papers. The cut-off price for the bond was set at Rs 97.92, translating into a yield of 6.8779%.

The weighted average yield for the 2031 bond came ...