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IFCI Infrastructure Bonds Issue -Series3.


After completing series-1 and 2 in last financial year,IFCI has come up now with infrastructure bonds issue with tax benefits U/S. 80CCF.

IFCI Tax Saving Infrastructure Bonds Issue:

1.Issue start date: 21st Sept. 2011.

2.Issue close date: 14th Nov. 2011.

3.Deemed date of allotment: 12th Dec. 2011.

4.Allotment: Both physical and demat mode.Trading is allowed only after completion of lock-in period of 5 years.

4.Interest rates:

Options 1 2 3 4
Interest Payment Cumulative Annual Cumulative Annual
Face value 5000/- 5000/- 5000/- 5000/-
Interest Rate 8.50% 8.50% 8.75% 8.75%
Tenor 10 Yrs 10 Yrs 15 Yrs 15 Yrs.
Buy Back option Yes.After completion of 5 & 7 Yrs. YesAfter completion of 5 and 7 yrs. Yes. after completion of 7 yrs. Yes. after completion of 7 yrs.

 

Maturity Value of Rs.20,000(4 Bonds) after completion of 60 Months = Rs.30075 + Tax benefit U/S 80-CCF on amount invested as per tax bracket of individual investor.

Other Details:

1.This is a 80-ccf tax benefit issue and tax benefits max upto Rs.20,000 will be available.

2.If anyone is looking to redeem bonds after mandatory lockin period,intimation needs to be given as in stipulated period.

2.This is the first issue of this kind in this year. Some good issues like LIC, PFC or REC are in waiting list..so investors need not to make any hurry and I think should wait for interest rates of new issues.

For downloadable application form:

contact us at – ppdeshpande123@gmail.com


Category: Fixed Income

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