Leading stock exchange BSE has said it will auction investment limits tomorrow, enabling foreign investors to purchase corporate bonds worth over Rs 8,300 crore.
The auction will be conducted on BSE’s ebidxchange platform from 1530 hrs to 1730 hrs, after the close of market hours, the exchange said in a circular.
The debt auction quota gives overseas investors the right to invest in the debt up to the limit purchased.
“Live bidding session for allocation of debt investment limits (worth Rs 8,314 crore) for FII/FPI/ sub-accounts shall be conducted on November 24, 2017 on exchange’s ‘ebidxchange’ platform,” BSE said.
A mock bidding session will be conducted today after the close of market hours to check the system’s performance, it added.
Earlier this month, corporate debt had attracted bids to the tune of Rs 12,005 crore from foreign portfolio investors (FPIs) in an auction of investment limits for such securities, much higher than Rs 9,018 crore that was on offer.