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Investment
IIFCL Tax Free Bonds – 2013 @8.75%

IIFCL Tax Free Bonds – 2013 @8.75%

Raviraj Parekh July 5, 2020

IIFCL

India Infrastructure Finance Company Limited (IIFCL) will open its public issue of Tax Free Secured Redeemable Non Convertible Bonds of face-value of  1,000 each having tax benefits under section 10(15)(iv)(h) of the Income Tax Act, 1961, as amended for an amount aggregating upto 2,500 Crores. Allotments will be on a First Come First Serve Basis. Issue open date 3-10-2013.

Rating:-

The bonds have been rated ‘[ICRA] AAA (stable)’ by ICRA, ‘BWR AAA (Stable)’ by Brickwork,‘CARE AAA’ by CARE,‘IND AAA (Stable)’ by IRRPL. The above ratings indicate highest degree of safety for timely servicing of financial obligations.

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Important Dates:-

  1. Issue Open Date: 03/10/2013.
  2. Issue Close Date:31/10/2013.

Issue Details:-

Listing

BSE

Tenure

10 years

15 years

20 years

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Series of Bonds

Series 1A

Series 1B

Series 2A

Series 2B

Series 3A

Series 3B

Frequency of Interest Payment

Annual

Annual

Annual

Minimum Application

Five Bonds (5,000) individually or collectively, across Series

Coupon
(P.a.)

Retail Individuals

N.A.

8.26%

N.A.

8.63%

N.A.

8.75%

Institutions, Corporates, HNI

8.01%

N.A.

8.38%

N.A.

8.50%

N.A.

Redemption Date

10 years from the Deemed Date of Allotment

15 years from the Deemed Date of Allotment

20 years from the Deemed Date of Allotment

Redemption Amount per Bond

Repayment of the Face Value plus any interest at the applicable Coupon Rate that may have accrued at the Redemption Date

Some key benefits of investing in IIFCL Tax Free bonds:-

  • Interest Income from this bond is tax free.
  • These bonds are Secured and are AAA rated.
  • These can be held in both the forms – in demat as well as physical. i.e customers who do not hold any demat can also apply and get tax free income.

The bonds will be listed on BSE. Customers who wish to exit from these bonds before maturity can do so by selling these bonds in secondary market at prevailing market prices.

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Tags:IIFCL IIFCL Tax Free IIFCL Tax Free Bonds tax free bonds

About The Author

Raviraj Parekh

Raviraj is the man behind moneyexcel.com. He is PGDBA, engaged in blogging for 10 years. Moneyexcel blog is ranked as one of the Top 10 Personal Finance Blog in India. He is not affiliated with any financial product, service provider, agent or broker. The purpose of this blog is to spread financial awareness and help people in achieving excellence for money. Please note that the views expressed on this Blog/Comments are clarifications meant for reference and guidance of the readers to explore further on the topics. These should not be construed as investment advice or legal opinion.

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