G-sec investment limit oversubscribed, FPIs bid for Rs 5,100 cr

Government bonds today attracted bids to the tune of over Rs 5,100 crore from foreign investors during an auction of investment limits for such securities worth of Rs 3,930 crore on offer, exchange data showed.

The investment limit for government debt securities has been receiving a solid response from foreign portfolio investors (FPIs) in the recent past.

The auction was conducted on the BSE's ebidxchange platform at 1530-1730 hours after market hours, the data showed.

Of the 41 bids, as many as 36 were declared successful, it showed.

FPIs bid Rs 5,139 crore ($794 million) for investment limits in government debt as against Rs 3,930 crore ($607 million) on offer.

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

Earlier this month, the government bond had attracted bids to the tune of Rs 3,666 crore from FPIs in an auction of investment limits for such securities, much higher than Rs 2,169 crore that was on offer.