NEW DELHI: Signalling robust demand for government bonds, an auction of debt securities attracted bids of Rs 1,487 crore, over two times of Rs 654-crore put on offer, from overseas investors.

The auction was held today at BSE's ebidXchange platform for allocation of Foreign Institutional Investors ( FIIs) investment limits in government debt securities worth Rs 654 crore.

At the end of two-hour auction this evening, 18 bids were declared successful.

The debt auction quota gives overseas investors the right to invest in debt, up to the limit purchased.

According to information available with the depositories, total investments, including limits acquired by foreign investors through auction route, stood at Rs 1,21,748 crore till May 14, which is 97.84 of total permitted investment limit of Rs 1,24,432 crore in government debt securities.

Consequently, the exchange had conducted an auction for the allocation of unutilised debt limits.

The earlier auctions for government debt securities have always been over-subscribed multiple times, given the huge interest among foreign investors for these bonds.

The demand for corporate debt securities among foreign investors is less as compared to government bonds.

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