India Infrastructure Finance Co. Ltd. (IIFCL) is a Government of India enterprise which is involved in providing long term financial assistance to various infrastructure projects. IIFCL has come up with an issue of tax-free bonds. Trance 2 of IIFCL was oversubscribe within one day in the month of Dec 2013. Tranche 3 the issue size [...]

IREDA (Indian Renewable Energy Development Agency Ltd.) is coming up with its public issue of tax-free bonds opening on 17th Feb 2014 i.e. tomorrow. The issue size is Rs 500 crores and it can retain over-subscription up-to 500 crores aggregating to Rs.1,000 crores. Issue Period: 17th Feb 2014 to 10 March 2014 Ratings: AAA (SO) by [...]

National Highways Authority of India (NHAI) has come up with another issue of it’s tax free bonds. The issue is of 1000 crore rupees but can accept over-subscription of upto rupees 2698 crore. Issue opens 15th Jan 2014  Issue closes 5th Feb 2014 CRISIL has given a rating of AAA/ Stable which makes the bond [...]

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/-) [...]

Tax Free Bonds India 2013-14

There has been a rush in tax free bonds this fiscal. Bonds are being oversubscribed this year. The latest one to get oversubscribed is NHB  which got oversubscribed 2.08 times in just one day! Companies such as HUDCO, NHB, NTPC, IRFC, IIFCL, NHAI, REC, PFC and NHPC are allowed to raise tax-free bonds in 2013-14. Who should [...]

National Housing Bank (NHB) is wholly owned by RBI and it’s vision is to “Promote inclusive expansion with stability in housing finance market.” National Housing Bank (NHB) has come up with a tax free bond issue of Rs 2100 crore and has opened for subscription today. The object of the issue is to mobilize long [...]

IIFCL Tax Free Bonds 2013-14

India Infrastructure Finance Corporation Ltd. (IIFCL) has come up with a tax free bond issue of Rs 3000/- crore. The bond will remain open for subscription till 10th January 2014. Details (For Retail investors only): Face Value: Rs 1000/- Minimum Application: 5 bonds or Rs 5000/- Maximum Application: Rs 10 lakh. Tenor 10 years 15 [...]

The tax free bond issue of Rs 2400 crore from Housing & Urban Development Corporation Ltd. (HUDCO) has been oversubscribed in retail category as on 24th December 2013. The bond has been oversubscribed 1.21 times in the retail category while remains under-subscribed in the other three categories viz. QIB’s, NII’s and HNI’s. The coupon rate [...]