New Delhi: Government bonds on Monday attracted bids worth over $1 billion from foreign portfolio investors (FPIs) in an auction of investment limits for such securities, much higher than the $763 million on offer.

The auction was conducted on the BSE’s “ebidxchange" platform from 3.30pm to 5.30pm after market hours. Of the total 58 bids, as many as 39 of them were declared successful after the end of the two hour auction. FPIs bid for investment limits in government debt securities to the tune of Rs7,816 crore as against Rs4,954 crore on offer, the exchange data showed.

The debt auction quota gives overseas investors the right to invest in the debt up to the limit purchased. To boost the inflow of foreign funds into Indian capital markets, Sebi had earlier this month raised the FPIs investment limit in government securities to Rs1,89,700 crore from Rs1,87,700 crore.

In an online auction conducted in late September, FPIs had bid to the tune of Rs4,541 crore for government debt limit as against Rs2,786 crore on offer.

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