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Personal Finance Blog India –

Tax Free Bonds 2013-2014 – IRFC Tax Free Bonds To Open On January 06,2014:


IRFC – Indian Railway Finance Corporation – A Govt Of India Enterprise Issue of Tax Free Bonds 2013-2014.IRFC intends to collect Rs.1500 crore with an option to retain the over subscription of Rs.7163 crore aggregating up to Rs.8663 Crore.

This is first tranche issue and company may come up multiple tranches to raise the capital.

  • Imp Dates:
  1. Issue Open Date:06-01-2014
  2. Issue Close Date:20-01-2014

Interest rates of IRFC Tax Free Bond:

Interest rates for investors applying for Rs 10 Lakh or less i.e.for retail individual investors:

Option          Tr.1 Series 1B Tr.1 Series 2B
Tenure 10 Years 15 Years
Coupon Rate 8.48% 8.65%
Interest payment Annually Annually

 

One can view that this issue offers two options : One for a period of 10 years and for 15 years .Highest interest rate offered is 8.65% for period of 15 years.

Other investors apart from retail individual or HUF , will get less 0.25% interest rate.

Interest payment :

Interest paymant will be annual and first interest payout will be on 15 April 2014 and on the same date in future.

Credit Rating :

AAA from CARE,ICRA and CRISIL.

Annual interest received will be of tax free in nature and as this issue offers highest safety …investors looking for long term, safe , periodic  interest income can consider to invest in this issue.


Category: Fixed Income

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Information provided on this blog is for general purpose only & not investment advice.Please take advice of SEBI Registered Investment Advisors before taking any investment decision.
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