New Delhi: The National Stock Exchange (NSE) will on Friday auction investment limits for overseas investors for the purchase of corporate bonds worth Rs8,295 crore.
The auction will be conducted on NSE’s e-bid platform from 3.30pm to 5.30pm after the close of market hours, the exchange said in a circular issued on Thursday. The auction quota gives overseas investors the right to invest in debt up to the stipulated limit.
Till Wednesday, the total investment in the corporate debt category had reached Rs2,17,028 crore, which is 96.32% of the total permitted threshold of Rs2,25,323 crore, as per the latest update with depositories.
“Consequently, the exchange shall conduct an auction for the allocation of unutilised debt limits (worth Rs 8,295 crore) on April 13, 2018,” NSE said.
To make trading members accustomed to the bidding platform, the exchange will conduct a mock bidding session on Thursday. In an auction conducted on 22 March, investment limits for corporate bonds had attracted bids to the tune of Rs13,774 crore by foreign portfolio investors (FPIs) against Rs11,796 crore put on offer.