New Delhi: Government bonds on Monday attracted bids worth over USD 1 billion from foreign portfolio investors (FPIs) in an auction of investment limits for such securities, much higher than the USD 763 million on offer.
The auction was conducted on BSE's 'ebidxchange' platform from 1530 hrs 1730 hrs 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.
Foreign portfolio investors (FPIs) bid for investment limits in government debt securities to the tune of Rs 7,816 crore (USD 1.2 billion) as against Rs 4,954 crore (USD 763 million) 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 Rs 1,89,700 crore from Rs 1,87,700 crore.
In an online auction conducted in late September, FPIs had bid to the tune of Rs 4,541 crore for government debt limit as against Rs 2,786 crore on offer.