NSE to auction investment limits for Rs 9,000-cr corporate bonds on Nov 7

The National Stock Exchange (NSE) will auction investment limits for overseas investors for the purchase of corporate bonds worth over Rs 9,000 crore tomorrow.

The auction will be conducted on NSE's e-bid platform from 1530 hrs to 1730 hrs after the close of market hours, the exchange said in a circular.

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

Till Friday, total investment in the corporate debt category reached Rs 2,08,804 crore, 95.86% of the total permitted threshold of Rs 2,17,822 crore, as per the latest update with depositories.

Consequently, the exchange will conduct an auction for the allocation of unutilised debt limits to the tune of Rs 9,018 crore on November 7.

In an auction conducted last month, investment limits for corporate bonds had attracted bids to the tune of Rs 11,875 crore by foreign portfolio investors (FPIs) against Rs 10,502 crore put on offer.