India SEBI to auction unutilised foreign investor limits on May 21

MUMBAI: India will auction on May 21 the unutilised limits for investments in federal and some corporate bonds to foreign institutional investors, the market regulator said in a statement on Friday.

The Securities and Exchange Board of India (SEBI) said 30.28 billion rupees ($566.56 million) worth limits in government bonds under old category, 28.02 billion rupees in government debt long-term category and 39.29 billion rupees in some corporate bonds will be auctioned.

The two-hour auction, to be held on the Bombay Stock Exchange, will start from 1530 hours local time (1000 GMT), the statement said.