SEBI to auction FIIs' unutilised limit in government bonds
30 Jul 2011
The Securities and Exchange Board of India (SEBI) will allocate unutilied portion of FIIs' investment limit in government debt through an open bidding.
The bidding for these limits will be conducted on the Bombay Stock Exchange (BSE) from 3:30 pm to 5:30 pm on 5 August 2011, in terms of SEBI circular dated 6 February 2009, subject to the following modifications, the market regulator said in a circular.
No single entity will be allocated more than Rs600 crore of the investment limit, the circular said.
Where a single entity bids on behalf of multiple entities, then such bid would be limited to Rs600 crore for every such single entity.
The minimum amount which can be bid for will be Rs100 crore and the minimum tick size would be Rs50 crore.
Allocation will be made on a first-come-first-serve process (FCFS).