Mumbai, June 16 -- State governments and Union Territories raised Rs 20,461.29 crore through the auction of State Government Securities (SGS) on Tuesday against a notified amount of Rs 21,600 crore. Gujarat declined bids for one security, while Punjab and Uttarakhand accepted lower amounts than initially planned.

Andhra Pradesh emerged as the largest borrower, raising Rs 4,600 crore through three securities. The state borrowed Rs 1,000 crore through a six-year security at a cut-off yield of 7.28%.

It also raised Rs 1,800 crore through the re-issue of the 7.79% Andhra Pradesh SGS 2042 at a cut-off price of Rs 99.81, translating into a yield of 7.8094%. Another Rs 1,800 crore was mobilised through the re-issue of the 7.81% Andhra Pradesh ...