Government Bonds Over-Subscribed; Fiis Put In Bids Worth Rs 1,487 Crore

Last month, National Stock Exchange (NSE) had conducted an auction for government bonds worth Rs 2,684 crore, which attracted bids worth Rs 6,657 crore.

Foreign investors are allowed to invest up to USD 25 billion (Rs 1,24,432 crore) in government debt securities through the auction route, while an investment of up to USD 5 billion (Rs 29,137 crore) is permitted 'on tap'.

"The minimum bid is Rs 1 crore and the time period for utilisation of the limits is 15 days from the date of allocation. Upon sale/redemption of debt securities, the FII or QFI will have a reinvestment period of 5 days," BSE said.

"If the reinvestment is not made within five working days, then the limits shall come back to the pool of free limits," it added.
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