Indian Railway Finance Corporation Ltd. has come up with a tax free bond issue. The issue opened for subscription yesterday.
The issue size of the bond is Rs 8600/- crore approx.
Issue period: January 06, 2014- January 20, 2014
Price of bond (Face Value): Rs 5000/- per bond.
Minimum subscription: 1 bond (of Rs 5000/-)
Coupon rate offered:
- 10 years bond: 8.48%
- 15 years bond: 8.65%
The bonds are proposed to be listed on the NSE. CARE, CRISIL and ICRA assigned AAA rating for this bond issue.
Currently this is the only bond which is open for subscription and is not fully subscribed yet (as on 7th Jan). NHB tax free bond is over subscribed.
One should consider investing early as the allotment for IRFC bond is on first come first serve basis.
Download Tax-Free Bonds Forms:
You can download the forms (here) (Don’t fill on any details asked by them simply click on submit!)
**Note – The download link is offered by an Agent and I am not compensated for the same. This is just for readers convenience.