IIFCL – India Infrastructure Finance Company Limited – A fully owned Govt Of India company engaged in the long term infrastructure finance.
IIFCL has come up with their second tranche of Tax Free Bond Issue and company intends to raise Rs.1000 Crores with option to retain over subscription upto Rs.3000 crores.
- Issue Open Date: 09-12-2013.
- Issue Close Date:10-01-2014.
|For Categories I,II and III
||Tr-2 Series 3A
For Category IV
Tr-2 Series 1B
|Tr-2 Series 2B
Tr 3 Series 3B
Category IV investors are investors can are applying for Rs.10 lakh or for less amount.
Issue Rating : AAA – by Care ,ICRA and Brickwork.
Overall this issue offer highest safety and annual interest payment.A good option if any one is looking for long term annuity (pension) like income which will of tax free in nature.
Tax Free bond Issue of NTPC have started today and this issue have received a good response.
As per details,NTPC issue have subscribed 189% overall.
% Subscription Of NTPC Tax Free Bond Dec-2013 on 03- 12-2013 @ 5 pm
||Bucket Size – IN CRORES
||Amount subscribed –Crores.
||Unsubscribed Amount – Crores
Above details are till 5:00 p.m today.
One can check the response received to NTPC tax free bonds and its clear that it is only matter of time and issue will be preclosed very much earlier than its closing schedule date which is on Dec 16,2013.
Company have intended to raise the capital of Rs.1750 crore through this issue and have received the bids of 3309.11 crore till 5.00 pm today.
Apart from NTPC,issue of HUDCO Tax Free Bonds have subscribed around 29% and issue of Shriram City Union Finance have received good response from Retail investors but a lukewarm response from institutional investors.
India Infoline -IIFL Housing Finance NCD issue Dec 2013 to open on 12-12-2013.
Details of HUDCO Tax Free Bonds Dec 2013.
India Infoline Housing Finance Ltd – Part of India Infoline -IIFL Group have come up with issue of NCD in Dec 2013.Issue intends to raise Rs.250 crore and retain over subscription of Rs.250 crore aggregating to Rs.500 crore.
Company will utilize this capital for financing activities and working capital requirements.
- Issue open date: 12-12-2013.
- Issue close date:20-12-2013.
||11.52 % Per Annum
|Interest payment Frequency
so one can view that issue structure is simple and offers only one option of 60 months period and monthly interest payment option with coupon rate of 11.52% per annum ..interest paid monthly.
These NCDs can be held in demat as well as physical mode.
Min subscription amount: Rs.10,000 or 10 NCDs
Security : Investors would have first pari-passu charge along with other secured creditors..IDBI trusteeship is the debenture trustee of this issue.
Listing : NCDs shall be listed on both BSE and NSE and can be sold in secondary market..if held in demat form but can’t guarantee about yield if done so.
Example of Monthly Income to be received:
|Rs. NCD subscribed
||Avg Monthly Interest Income*
|Rs.10,00,00 (1 lakh)
This is avg monthly income expected if subscribed for Rs.10,00,00.
Rs.10,000 is the minimum subscription requirement.
This monthly income will start from the date of allotment and since it will be credited based on actual days count ..it may vary month to month basis.
The actual day count may vary because of variable no of days in particular month or public holiday on date of credit of interest income.
IIFL is a reputed group and investor can invest after understanding the risks associated with the housing finance.