INDIA: Allocation of corporate debt investment limits to India FII

Monday June 14 2010

The Securities and Exchange Board of India has announced the following methods of allocation of the unutilised limits to India FIIs for investment in corporate debt:Allocation through the bidding process. The bidding process shall take place on the 18th June 2010 on the Bombay Stock Exchange; no single entity shall be allocated more than Rs. 2000 cr. of the corporate debt investment limit. The minimum amount which can be bid for shall be Rs. 200 cr. and the minimum tick size shall be Rs. 200cr.The corporate debt limits shall be allocated on a first come, first served basis. The remaining amount in corporate debt after bidding process shall be allocated among the FIIs/sub-accounts on a first come, first served basis, subject to a ceiling of Rs. 190 cr. per registered entity. The window for first come, first served process shall open at 08.30AM IST, on 21 June 2010. Debt requests in this regard are to be sent to the dedicated email indicated in the circular. Click on the above link for more details.