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.
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.
- Issue Open Date: 03/10/2013.
- Issue Close Date:31/10/2013.
Series of Bonds
Frequency of Interest Payment
Five Bonds (5,000) individually or collectively, across Series
Institutions, Corporates, HNI
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.