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The National Stock Exchange will auction investment limits for foreign investors to purchase government bonds worth over Rs 2,100 crore on Monday.
The auction will be conducted on NSE’s ebid platform from 3.30 pm to 5.30 pm after market hours, the exchange said in a circular today.
The debt auction quota gives foreign portfolio investors (FPIs) the right to invest in the debt up to the limit purchased.
Till yesterday, investment in government debt had reached Rs 1,87,531 crore, which is 98.86 per cent of the total permitted limit of Rs 1,89,700 crore.
Consequently, NSE would conduct an auction for the allocation of unutilised debt limits to the tune of Rs 2,169 crore on November 6.
A mock bidding session would be conducted today to check the system’s performance.
To boost the inflow of foreign funds into Indian capital markets, SEBI had last month raised the FPI investment limit in government securities to Rs 1,89,700 crore from Rs 1,87,700 crore.
In an online auction conducted in October, the government debt securities had attracted bids worth Rs 7,816 crore from FPIs as against Rs 4,954 crore on offer.
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