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BW Businessworld

Govt To Sell $5.3 Bn In Debt Quotas To Foreign Investors

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The government will auction Rs 29,108 crore in government debt to foreign investors on April 22, according to the website of market regulator Securities and Exchange Board of India (Sebi).

This will mark the first auction since India simplified restrictions for foreign investment in government and corporate debt.

India will sell debt limits of Rs 4,487 crore in the government debt old category and Rs 24,621 crore in the government debt long-term category. These debt quotas give foreign investors the right to invest in debt up to the limit bought.

India will not auction corporate bonds after doing away with auctions for this segment of debt until 90 per cent foreign ownership is reached.

(Reuters)