India to auction unused govt debt limit to foreign investors

Auction comes after country previously auctioned Rs 71.52 bn worth of unused debt limits on June 11

India will auction unutilised investment limits in government debt worth 55.16 billion rupees ($917.88 million) to foreign investors on Tuesday, exchange operator BSE Ltd said in a circular on Monday.

The auction comes after the country previously auctioned 71.52 billion rupees worth of unused debt limits on June 11, which saw aggressive bidding by foreign investors.

These bond auction quotas give foreign investors the right to invest in debt up to the limit bought.

BSE will notify bidders about the results of the auction shortly after 5:30 p.m. India time on Tuesday.