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Highlights of the Issue:
ü | Secured, redeemable, non-convertible debentures with tax benefits under the Income Tax Act, 1961 |
ü | Additional Tax benefits available for investments made up to Rs 20,000/- |
ü | Rated “AAA” by FITCH & ICRA respectively |
ü | Interest Income on the Bonds is taxable |
ü
| Option of Issuing either in Demat form or physical form |
|
Issue Details:.
Particulars | Option 1 | Option 2 |
Issue Opens | Monday, March 19, 2012 |
Issue Closes | Friday, March 30, 2012 |
Issue Size | Rs 5000 crores |
Rate of Interest | 8.43 % p.a | N.A |
Frequency of interest payment | Annual | Cumulative |
Rating | “(ICRA)AAA” from ICRA and “Fitch AAA (ind)” from FITCH |
Face Value | Rs. 5,000/- |
Who can apply | Resident Individuals / HUF |
Maturity / Redemption | 10 years from the Deemed Date of allotment |
Lock-in period | 5 years from the Deemed Date of Allotment |
Listing | NSE and BSE |
Minimum Subscription | Rs. 10000/- |
Registrars | Karvy Computershare Private Limited |
Maturity Amount | Rs 5000/- per Tranche 3 Bond | Rs. 11,230/- per Tranche 3 Bond |
Buy Back Date | Date falling five years & 1 day from the deemed date of allotment |
Buy Back Amount | Rs. 5,000/- per Tranche 3 Bond | Rs. 7,495/- per Tranche 3 Bond |
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Tax Benefits:
Under section 80C of Income Tax Act, any amount not exceeding Rs. 20,000 per annum, paid or deposited as subscription to long term infrastructure bonds during the previous year relevant to the assessment year beginning April 1, 2011, shall be deducted in computing the taxable income. This is over and above the Rs. 1,00,000 tax benefit available under section 80C. |
Tax rate | Series 1 | Series 2 | Series 1** | Series 2** |
10.3 | 10.11% | 9.61% | 11.23% | 10.81% |
20.6 | 12.08% | 10.95% | 14.50% | 13.54% |
30.9 | 14.45% | 12.50% | 18.39% | 16.74% |
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**Assuming Buy-Back of Bonds on Buy-Back date |
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