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Business News/ Market / Stock-market-news/  Government bonds oversubscribed as FPIs bid for $700 million
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Government bonds oversubscribed as FPIs bid for $700 million

Foreign portfolio investors bid for investment limits in government bonds worth Rs4,541 crore ($699 million) as against Rs2,786 crore ($429 million) on offer

The auction was conducted on National Stock Exchange (NSE)’s e-bid platform from 1530 hours to 1730 hours, after the market hours. Photo: ReutersPremium
The auction was conducted on National Stock Exchange (NSE)’s e-bid platform from 1530 hours to 1730 hours, after the market hours. Photo: Reuters

New Delhi: Government bonds on Monday received robust response from foreign investors attracting bids to the tune of about $700 million, against $429 million on offer.

The auction was conducted on National Stock Exchange (NSE)’s e-bid platform from 1530 hours to 1730 hours, after the market hours.

At the end of the two-hour auction, as many as 37 bids were declared successful out of 47, the exchange data showed.

Foreign portfolio investors (FPIs) bid for investment limits in government debt securities worth Rs4,541 crore ($699 million) as against Rs2,786 crore ($429 million) on offer.

The debt auction quota gives overseas investors the right to invest in the debt up to the limit purchased. Till 21 September, the total investment in the government debt category reached Rs184,914 crore, 98.52% of total permitted threshold of Rs1,87,700 crore, as per the latest update with depositories.

Consequently, the exchange had decided conduct an auction for the allocation of unutilised debt investment limits (Rs2,786 crore). In an auction conducted earlier this month, the government bonds had attracted bids worth Rs6,663 crore from foreign investors against Rs4,910 crore put on offer.

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Published: 25 Sep 2017, 08:55 PM IST
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