HUDCO tax free bond 2013 oversubscribed in retail category
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 for the bond ranges from 8.76% to 9.01% depending on the tenor.
The effective pre-tax yield (for person in 30% tax bracket) stands at 12.68% to 13.04% (based on tenor).
Retail investors can still invest in the ongoing and upcoming tax free bond issues like – IIFCL, NHB and IRFC.
Currently IIFCL is open for subscription.
We will publish the allotment details as they are announced. Stay tuned!