Foreign institutional investors (FII) cannot hold more than Rs 800 crore of government debt at any given point of time.
"No single entity shall be allocated more than Rs 800 crore of the government debt investment limit," Sebi said in a circular. The invest-ment limit was Rs 1,000 crore earlier. The remaining limit for investment in government debt should be allocated among the foreign institutional investorss/ sub-accounts on a first come first served basis in terms of a Sebi circular dated January 31, 2008, subject to a ceiling of Rs 249 crore per registered entity, it said.
"The bidding process shall be on September 08, 2009, on the National Stock Exchange," Sebi said. On other hand, the window for first come first serve process shall open at 11.59 pm on September 9, it added.
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