June 20, 2013 / 12:12 PM / 4 years ago

India sees moderate demand at foreign debt limit auction-sources

MUMBAI, June 20 (Reuters) - India attracted 391.71 billion
rupees ($6.67 billion) worth of orders from foreign investors in
its auction of government debt limits on Thursday, lower than
the 420.22 billion rupees on offer, according to four dealers. 
   These bond auction quotas give foreign investors the right to
invest in debt up to the limit bought. 
   The lowest bid came at 0.0001 basis point and the highest one
was at 0.50 basis point, the sources said, well below the
cut-offs in the previous month given the big amount of quotas on
sale.
    The four dealers participated in the auction but declined to
be identified as the results have not been made public yet. 
    
 ---------------------------------------------------------------
                                                      
                      CUT-OFF PREVCUT-OFF  BIDS       ONOFFER   
                           (basis points)   (in bln rupees)  
----------------------------------------------------------------
Govt Debt             0.0001   10.25      391.71     420.22  
----------------------------------------------------------------

($1 = 58.7400 Indian rupees)

 (Reporting by Archana Narayanan and Suvashree DeyChoudhury;
Editing by Rafael Nam)

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