Auction of government securities (G-Sec) worth ₹654 crore for foreign portfolio investors (FPI) would be held between 3.30 and 5.30 p.m. on June 8 on the BSE.
A BSE statement said that the minimum bid is ₹1 crore and that the time period for utilising the limits is 15 days from the date of allocation.
FPI have a five-day window to reinvest the proceeds of sale/ redemption of debt securities failing which such limits are freed and sent to the pool of free limits.
As on June 4, 99.47 per cent of the $30-billion FPI limits to invest in G-Secs had been utilised. Of the $30 billion, $25 billion (₹1.24 lakh crore) is allocated through auction and the remaining $5 billion (₹24,886 crore) to long-term FPIs such as sovereign wealth funds, multilateral agencies, endowment funds, insurance funds, pension funds and foreign central banks.