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We are pleased to present you the confirmed details of Public Issue of “AAA” Rated, TAX Free, SECURED, REDEEMABLE Bonds issued by “Indian Railway Finance Corporation Ltd” (IRFC). This issue is opening on January 27, 2012. These bonds have been assigned a AAA rating by CRISIL, CARE & ICRA and also carry an attractive 8.15% (for 10 years) and 8.30% (for 15 years) tax-free returns. As the interest income is tax free, the pre-tax yield works out to around 11.80 – 12.01% (for individuals in the highest tax bracket).
Note: This is not 80CCF Infrastructure Bond.
Terms of the Issue :
Particulars
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IRFC TAX FREE BONDS
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Issue Size
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Rs. 5000 Crores
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Issue Opening Date
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27TH January 2012
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Issue Closing Date
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10th Feb 2012
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Rating
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“AAA” by CRISIL , CARE & ICRA
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Minimum Application
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***
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Tenure
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10 Yrs (No Lock-In)
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15 Yrs (No Lock-In)
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App More than Rs. 5 Lakhs( QIB, HNI & Corp)
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8.00% p.a.
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8.10% p.a.
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App Upto Rs. 5 Lakhs ( Retail & HUF)
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8.15% p.a.
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8.30% p.a.
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Face Value of Bond
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Rs.1000
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Listing
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Proposed to be listed both in NSE & BSE
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Interest payment
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PAYABLE Annually Only
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Issuance
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Demat as well as physical
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Pre – Tax Yield Calculation :
Particulars
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10 Years
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15 Years
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Tax-Free Yield
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8.15%
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8.30%
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Pre-Tax Yield
| ||
Individuals (tax @ 30.90%)
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11.80%
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12.01%
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This issues is opening on 27th Jan for subscription & will be closed soon.
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