Debt auction quota gives overseas investors right to invest in debt up to the limit purchased.
Corporate bonds on Friday attracted bids worth $1.4 billion from foreign portfolio investors (FPIs) in an auction of investment limits for such securities of worth $1.3 billion on offer. The auction was conducted on BSE's ebidxchange platform from 1530-1730 hrs after market hours, the exchange data showed.
Of the 46 bids, 40 were declared successful, it showed.
FPIs bid Rs 9,071 crore ($1.4 billion) for investment limits in corporate debt as against Rs 8,314 crore ($1.3 billion) on offer.
The debt auction quota gives overseas investors the right to invest in the debt up to the limit purchased.
Earlier this month, corporate debt had attracted bids to the tune of Rs 12,005 crore from FPIs in an auction of investment limits for such securities, much higher than Rs 9,018 crore that was on offer.
Further, the exchange will auction investment limits on on November 27, enabling foreign investors to purchase government bonds nearly worth Rs 4,000 crore.(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)