BSE to auction investment limits for Rs 7,400-cr corp bonds tomorrow

Bid to take place between 3:30 pm and 5:30 pm, after the close of market hours on Wed

Leading stock exchange BSE will auction investment limits on Wednesday, enabling foreign investors to purchase corporate bond securities worth over Rs 7,400 crore.

The auction will be conducted on BSE's ebidxchange platform from 3:30 pm to 5:30 pm, after the close of market hours, the exchange said in a circular on Tuesday.

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

A mock bidding session will be conducted between 11:30 am and 1:00 pm to check the system's performance, BSE said.

"Live bidding session for allocation of debt investment limits (of Rs 7,418 crore) for FII/FPI/sub-accounts shall be conducted on July 26, 2017 on exchange's 'ebidxchange' platform," it said.

The exchange is on Tuesday auctioning investment limits for foreign investors to purchase government debt securities to the tune of Rs 10,922 crore.