HUDCO Tax Free Bond

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Housing and Urban Development Corporation Ltd is coming up with public issue of Tax Free, Secured, Redeemable, Non-Convertible Bonds , for an amount of Rs.2000 Crores with an option to retain an oversubscription up to the Shelf Limit (4684.72 Crores).

Below are the details of the Issue:

HUDCO BOND
ISSUE OPENS	27-Jan-12
ISSUE CLOSES	06-Feb-12
PRICE BAND	Rs. 1000/-
MINIMUM APPLICATION	10 Units [Rs. 10, 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  8.10%] [Category III  8.22%] Payable Annually. Series 2 [Category I & II  8.20%] [Category III  8.35%] Payable Annually.
RATING	CARE AA+ by CARE & FITCH AA+ (Ind) by FITCH
Tax Benefits	Interest on Bonds shall be exempt from income tax and shall not be included while computing the total income as per provisions u/s 10 (15) (iv) (h) of Income Tax Act, 1961, as amended. Since the interest income on these Bonds is exempt from tax.