Corp bonds attract bids worth USD 1.15 bn from FPIs

Corporate bonds today received an overwhelming response from foreign investors and attracted bids worth USD 1.6 billion, against USD 1.15 billion on offer.

The auction was conducted on BSE's ebidxchange platform from 1530 hours to 1730 hours, after the market hours.

At the end of the two-hour auction, as many as 23 bids were declared successful out of 36, the exchange data showed.

Foreign portfolio investors (FPIs) bid for investment limits in corporate debt securities worth Rs 10,442 crore (USD 1.62 billion) as against Rs 7,418 crore (USD 1.15 billion) on offer.

The debt auction quota gives overseas investors the right to invest in the debt up to the limit purchased.

A mock bidding session was conducted yesterday to check the system's performance.

In an online auction conducted yesterday, government debt securities had attracted bids to the tune of Rs 14,698 crore as against Rs 10,922 crore on offer.

To boost inflows of foreign funds into Indian capital markets, regulator Sebi earlier this month raised the FPI investment limit in government securities to Rs 1,87,700 crore. Prior to that, the limit was Rs 1,84,901 crore.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)