Sebi to sell bonds worth $11.3 billion to FIIs

Market regulator Sebi will auction bonds worth $11.3 billion this month, following the hike in investment caps for foreign institutional investors (FIIs) in corporate and government debt markets by $5 billion each.

The auction for allocation of available debt limits after the increase in investment ceilings will be conducted for FIIs on February 20 through an electronic bidding process.

The move follows a decision by the Reserve Bank of India to enhance investment limit for in the long-term government debt to $15 billion and in non-infrastructure corporate debt to $25 billion.

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