Leading stock exchange BSE will auction investment limits for overseas investors on Monday for the purchase of government debt securities worth Rs 4,046 crore.
The auction will be conducted on BSE’s e-bidxchange platform from 1530 hrs to 1730 hrs, after the close of market hours.
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 for FII/FPI/sub accounts shall be conducted on Monday, June 6, 2016, on exchange’s ‘ebidxchange’ platform,” BSE said in a circular.
A mock bidding session would be conducted on Friday in this regard.
Last month, the government debt securities witnessed lukewarm response after months of over-subscription. It had attracted bids worth Rs 2,957 crore from foreign investors as against securities to the tune of Rs 3,340 crore put on offer in an online auction.
To boost inflows of foreign funds, the limit for overseas investors in central government was hiked to Rs 1.4 lakh crore from April 4, and it will be further increase to Rs 1.44 lakh crore from July 5. Earlier, the limit was Rs 1,35,400 crore.