You are here: Home » Markets » News
Business Standard

Govt debt limit auction attracts demand worth over $1 bn from FPIs

FPIs bid for investment limits in government debt securities to the tune of Rs 7,816 cr as against Rs 4,954 cr on offer

Press Trust of India  |  New Delhi 

Govt debt limit auction attracts demand worth over $1 bn from FPIs

on Monday attracted bids worth over $1 billion from foreign portfolio investors (FPIs) in an auction of limits for such securities, much higher than the $763 million on offer.

The auction was conducted on BSE's 'ebidxchange' platform from 1530 hrs 1730 hrs after market hours.

Of the total 58 bids, as many as 39 of them were declared successful after the end of the two hour auction.

Foreign portfolio investors (FPIs) bid for limits in debt to the tune of Rs 7,816 crore ($1.2 billion) as against Rs 4,954 crore ($763 million) on offer, the exchange data showed.

The debt auction quota gives overseas investors the right to invest in the debt up to the limit purchased.

To boost the inflow of foreign funds into Indian capital markets, had earlier this month raised the limit in to Rs 1,89,700 crore from Rs 1,87,700 crore.

In an online auction conducted in late September, had bid to the tune of Rs 4,541 crore for debt limit as against Rs 2,786 crore on offer.

First Published: Mon, October 16 2017. 22:49 IST