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| Dear Customer, |
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Indian Railways Finance Corporation Ltd (IRFC) opens its public issue of tax - free bonds of the face-value of INR 1000 each on January 27, 2012.
The income by way of interest on these Bonds is fully exempt from Income Tax under Section 10(15)(iv)(h) of the Income Tax Act, 1961 and shall not form a part of the total income.
Please find below details about the issue: |
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| Issuer | Indian Railways Finance Corporation Ltd ( IRFC) |
| Rating | AAA/Stable by CRISIL |
| Face Value | INR 1000 each |
| Issue Size | 6300 crores |
| Tenure | 10 years/15 years |
| Interest Rates (Application < 5 lac) | 8.15% for 10 years, 8.30% for 15 years |
| Interest Rates (Application > 5 lac) | 8.00% for 10 years, 8.10% for 15 years |
| Interest payout Frequency | Annual |
| Issue Starts on | January 27, 2012 |
| Issue Closes on | February 10, 2012 |
| Basis of Allotment | First-come, first-served |
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