The Bombay Stock Exchange will auction investment limits, enabling foreign investors to purchase corporate bond securities worth over Rs 7,000 crore tomorrow.
The auction will be conducted on BSE’s ebidxchange platform from 3:30 pm to 5:30 pm, after the close of market hours, the exchange said in a circular issued today.
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 (Rs 7,120 crore) for FII/FPI/sub accounts shall be conducted on February 9, 2018 on exchange’s ‘ebidxchange’ platform,” BSE said.
Besides, a mock bidding session would be conducted today to check the system’s performance. Last month, the exchanges had auctioned investment limits for corporate bonds twice.
On one occasion, investment limits for corporate bonds had attracted bids to the tune of Rs 15,961 crore by foreign portfolio investors (FPIs) as against Rs 13,756 crore on offer. Besides, FPIs had bid for to the tune of Rs 13,900 crore for such investment limit against the offer of Rs 9,475 crore.
source:-.thehindubusinessline
