NSE to auction investment limit for Rs2,220 crore corporate bonds1 min read . Updated: 21 Sep 2017, 08:27 PM IST
The auction of investment limits for overseas investors for purchase of corporate bonds will be conducted on the exchange's e-bid platform from 3.30 pm to 5.30 pm, says NSE
New Delhi: The National Stock Exchange (NSE) on Thursday said it will auction investment limits for overseas investors for purchase of corporate bonds worth over Rs2,200 crore on Friday.
The auction will be conducted on NSE’s e-bid platform from 3.30 pm to 5.30 pm after the close of market hours, the exchange said in a statement.
The auction quota gives overseas investors the right to invest in debt up to the stipulated limit.
Till Wednesday, total investment in the corporate debt category has reached ₹ 42,094 crore, 99.09% of total permitted threshold of ₹ 244,323 crore, as per the latest update with depositories.
Consequently, the exchange will conduct an auction for the allocation of unutilised debt limits (Rs2,229 crore) on 22 September. Besides, a mock bidding session was conducted on Thursday to check the system’s performance.