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Corporate bond investment limit oversubscribed

FPIs bid for $1.4 billion

Press Trust of India  |  New Delhi 

Corporate bond investment limit oversubscribed

Corporate on Friday attracted bids worth $1.4 billion from foreign portfolio investors (FPIs) in an auction of investment limits for such securities of worth $1.3 billion on offer. The auction was conducted on BSE’s platform from 1530-1730 hrs after market hours, the exchange data showed. Of the 46 bids, 40 were declared successful, it showed. bid Rs 9,071 crore ($1.4 billion) for investment limits in as against Rs 8,314 crore ($1.3 billion) on offer.

The debt auction quota gives overseas investors the right to invest in the debt up to the limit purchased. Earlier this month, had attracted bids to the tune of Rs 12,005 crore from in an auction of investment limits for such securities, much higher than Rs 9,018 crore that was on offer. Further, the exchange will auction investment limits on November 27, enabling foreign investors to purchase government nearly worth Rs 4,000 crore.

First Published: Sat, November 25 2017. 01:51 IST
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