BSE enables foreign investors to purchase corporate bonds in auction investment limits

Mumbai, November 23: The Leading Stock Exchange of India, Bombay Stock Exchange (BSE) for enabling foreign investors to purchase corporate bonds worth over Rs. 8, 300 crore said that it will auction investment limits on Friday. The exchange in its circular stated that the live bidding session for allocation of debt investment limits will be conducted on BSE's ebidxchange platform from 15.30 to 17.30 hrs, after the close of market hours.

 

The overseas investors will get the debt auction quota and also the right to invest in the debt up to the limit purchased. Earlier this month, corporate debt had attracted bids upto Rs. 12,005 crore from foreign portfolio investors in an auction of investment limits for such securities, much higher than Rs 9,018 crore that was on offer.

As per the SEBI circular dated November 26, 2010, a single entity can bid on behalf of multiple entities. The entities list once submitted cannot be altered. Allocation for such entities should be sent to exchange up to 10 minutes from bidding session is over.

Established in 1875 the Bombay Stock Exchange is Asia’s first stock exchange, it claims to be the world's fastest stock exchange, with a medium trade speed of 6 microseconds. The BSE is the world's 11th largest stock exchange with an overall market capitalization of more than 2 Trillion dollars as of July, 2017. More than 5500 companies are publicly listed on the BSE.