Yield-hungry foreign portfolio investors (FPIs) are leaving no stones unturned in lapping up the investment limits available for corporate bonds in India with the highest bid touching 75 basis points on Friday’s auction. (Image: IE)
Yield-hungry foreign portfolio investors (FPIs) are leaving no stones unturned in lapping up the investment limits available for corporate bonds in India with the highest bid touching 75 basis points on Friday’s auction. This is more than the the highest bid of 56 basis points registered during the previous auction. The lowest or the cut-off bid that FPIs put in stood at 50.01 basis points compared to 45 basis points in the previous auction.
Against a notified amount of Rs 2,229 crore for corporate bonds, 46 bidders put in bids to acquire limits for an amount of Rs 5,241 crore. Auctions are conducted when investment limits get freed up either due to redemption or sales in the market.
