Leading stock exchange BSE will auction investment limits on Wednesday, enabling foreign investors to purchase corporate bond securities worth over Rs 13,700 crore.
The auction will be conducted on BSE’s ebidxchange platform from 3:30pm to 5:30 pm, after the close of market hours, the exchange said in a circular issued on Tuesday.
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 13,756 crore) for FII/FPI/sub accounts shall be conducted on January 3, 2018 on exchange’s ‘ebidxchange’ platform,” BSE said.
Besides, a mock bidding session would be conducted today to check the system’s performance.
In an auction conducted last month, investment limits for corporate bonds had attracted bids to the tune of Rs 7,370 crore by foreign portfolio investors (FPIs) as against Rs 7,374 crore on offer.