Government bonds on Monday attracted bids worth over $1 billion from foreign portfolio investors (FPIs) in an auction of investment 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 investment limits in government debt securities 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.