NSE to auction investment limit for Rs 2,220-cr corporate bonds

The National Stock Exchange (NSE) on Thursday said it will auction investment limits for overseas investors for purchase of corporate bonds worth over Rs 2,200 crore tomorrow.

The auction will be conducted on NSE's e-bid platform from 3.30 pm to 5.30 pm after the close of market hours, the exchange said in a statement.

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

Till yesterday, total investment in the corporate debt category has reached Rs 2,42,094 crore, 99.09 per cent of total permitted threshold of Rs 2,44,323 crore, as per the latest update with depositories.

Consequently, the exchange will conduct an auction for the allocation of unutilised debt limits (Rs 2,229 crore) on September 22.

Besides, a mock bidding session was conducted today to check the system's performance.