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Public Issue by Rural Electrification Corporation Limited (REC) which initially had a Retail Limit of Rs. 1 Lakh for an Individual Investor has now been extended to Rs. 5 Lakh. Thus any Individual Investor investing upto Rs. 5 lakh shall be treated as a Retail investor and any individual investor investing more than Rs. 5 Lakh shall be treated as High Networth individual.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Public Issue by Rural Electrification Corporation Limited (REC) which initially had a Retail Limit of Rs. 1 Lakh for an Individual Investor has now been extended to Rs. 5 Lakh. Thus any Individual Investor investing upto Rs. 5 lakh shall be treated as a Retail investor and any individual investor investing more than Rs. 5 Lakh shall be treated as High Networth individual.
Below are the details of the Issue:
| REC INFRASTRUCTURE BOND | |
| ISSUE OPENS | 06th March 2012 |
| ISSUE CLOSES | 12th March 2012 |
| PRICE BAND | Rs. 1000/- |
| MINIMUM APPLICATION | 5 Units [Rs. 5, 000] and in multiples of 1 Bond (Rs.1000) each thereafter. |
| MATURITY | 10 & 15 years from the Deemed Date of Allotment. |
| INTEREST RATE | Series 1 (Category I & II 7.93 % p.a) (Category III 8.13 % p.a) Series 2 (Category I & II 8.12 % p.a] (Category III 8.32 % p.a) |
| RATING | CRISIL AAA/Stable by CRISIL, CARE AAA by CARE, Fitch AAA(ind) by FITCH and AAA by ICRA |
| Tax Benefits | Interest on Bonds shall be exempt from income tax and The interest on these bonds shall not be included while computing the Total Income of an assessee as per provisions of section 10(15)(iv)(h) of the Income Tax Act, 1961. Since the interest income on these bonds is exempt, no Tax Deduction at Source (TDS) is required |
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