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BSE to auction government bonds worth Rs. 507 cr for FIIs on Monday

Investment limits for government debt securities worth Rs. 507 crore will be auctioned on the BSE on Monday.

The auction would take place on leading stock exchange BSE’s ‘ebidxchange’ platform from 1530 hrs to 1730 hrs, after close of normal market hours on April 27.

A mock bidding session was conducted on Friday to check the system performance.

“Live bidding session for allocation of debt investment limits for FII (Foreign Institutional Investors) and sub-accounts shall be conducted on Monday, April 27, 2015 on the Exchange’s ebidxchange platform,” the bourse said in a circular.

The earlier auctions for government debt securities have always been over-subscribed multiple times, given the huge interest among foreign investors for these bonds.

Foreign investors are allowed to invest up to USD 25 billion (Rs. 124,432 crore) in government debt securities through auction route, while an investment of up to USD 5 billion (Rs. 29,137 crore) is permitted ‘on tap’.

As per data from depositories, the total investments, including limits acquired by foreign investors in the auction route, stood at Rs. 123,539 crore in March, exhausting 99.28 per cent of the permitted levels.

The demand for corporate debt securities among foreign investors is less as compared to government bonds.

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