IREDA tax-free bonds open for subscription tomorrow
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 CARE AAA & BRICKWORK
Listing: NSE and BSE. Issuance – Both in Physical & Dematerialized form.
For Non-Retail (Category I, II & III)
8.16% p.a. For 10yrs,
8.55% p.a. For 15yrs & 20yrs
For Retail (Categoty IV):
8.41% p.a. For 10 yrs
8.80% p.a. For 15 yrs & 20 yrs
Should you subscribe?
Yes one can consider investing in these bonds as the yields are high compared to post tax yields of a corporate deposits. IREDA is a Government of India enterprise and has got decent rating from agencies. The bonds are great for long term as one can be protected from the “interest rate risk”.
Fill in the details here – click here & you will get the forms via. email.
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