NSE to auction investment limits for Rs9,475-crore corporate bonds

The auction will be conducted on NSE’s e-bid platform from 1530 hrs to 1730 hrs after the close of market hours. Photo: Mint

The auction will be conducted on NSE’s e-bid platform from 1530 hrs to 1730 hrs after the close of market hours. Photo: Mint

New Delhi: Leading bourse National Stock Exchange (NSE) will auction investment limits for overseas investors for purchase of corporate bonds worth Rs9,475 crore on Monday.

The auction will be conducted on NSE’s e-bid platform from 1530 hrs to 1730 hrs after the close of market hours, the exchange said in a circular.

The auction quota gives overseas investors the right to invest in debt up to the stipulated limit. Till yesterday, the total investment in the corporate debt category reached Rs2,15,848 crore, which is 96% 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 Rs9,475 crore) on 22 January, 2018,” NSE said.

To make trading members accustomed to the bidding platform, the exchange will conduct a mock bidding session today.

In an auction conducted earlier this month, investment limits for corporate bonds had attracted bids to the tune of Rs15,961 crore by foreign portfolio investors (FPIs) against Rs13,756 crore put on offer.

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