India Infrastructure Finance Company launched its 1o,ooo Cr Tax Free Bond Issue.
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[wptabtitle] Product Note[/wptabtitle] [wptabcontent]
Issue Highlight –
Issuer | India Infrastructure Finance Corp. Ltd |
---|---|
Type of Instrument | Secured, Redeemable, NCD |
Issue Open | 26, Dec, 2012 |
Issue Close | 11 Jan 2013 |
Issue Size | 1500 Cr. with right to retain oversubscription up to Rs. 9,250 Cr. (Shelf Limit) |
Face Value | Rs. 1,000 |
Min. Application Size | 5 Bonds (Rs.5000) & multiply of 1 Bond thereafter |
Interest | Annually |
Mode of Allotment | D'mat & Physical Form |
Rating | CARE AAA by CARE , [ICRA] AAA - Stable by ICRA , BWR AAA by Brickwork Rating |
Issue Structure –
Options | Tranche 1- Series 1 | Tranche 1- Series 2 | Tranche 1- Series 3 |
---|---|---|---|
Tenor | 10 years | 15 years | 20 years |
Coupon Rate % | |||
Category - I, II, III | 7.19% | 7.36% | 7.40% |
Category - IV (Retail) | 7.69% | 7.86% | 7.90% |
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[wptabtitle] About Issue[/wptabtitle] [wptabcontent]
About the Issuer
- IIFCL is wholly owned ‘ Government Company’
- Provide financial assistance to long term infrastructure project in the sector roads & bridges, railways, seaports, airports, Inland waterways, other transportation projects, sewage , water supply , gap pipeline etc.
- In accordance with GoI policy to boost infrastructure development through PPP projects, their lending initiatives are primarily focused on PPP Projects.
Benefit to Investor
- The Income by way of Interest on these Bonds is fully exempt from Income Tax as per provision under section 10(15) (iv) (h) of IT act.
- No TDS
- Capital Gain Benefit – capital gain arising on the transfer of listed bonds shall be taxed @ 10% without Indexation or @20% with Indexation.
Issue Drawback
In case the Bonds held by the original Allottees under Category IV (Retail) are sold/transferred (except in case of transfer of Bonds to legal heirs in the event of death of original Allottee), the coupon rate shall stand revised to the coupon rate applicable for Allottees falling under Cat I,II,III portions
In simple word, additional 0.50% interest only for first investor, No benefit for Retail Investor buy from Open Market.
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[wptabtitle] Subscription Data[/wptabtitle] [wptabcontent]
Category | No Bond Offer | No of Bond Bid For | No of Time Subscribe |
---|---|---|---|
11 Jan 2013 | |||
Category I | 22,50,000 | 1,90,98,600 | 8.49 |
Category II | 22,50,000 | 22,50,000 | 1.48 |
Category III | 45,00,000 | 23,69,270 | 0.53 |
Category IV | 60,00,000 | 39,85,760 | 0.66 |
TOTAL | 1,50,000 | 2,87,89,200 | 1.92 |
10 Jan 2013 | |||
Category I | 22,50,000 | 1,21,07,600 | 5.38 |
Category II | 22,50,000 | 8,76,274 | 0.39 |
Category III | 45,00,000 | 18,82,920 | 0.42 |
Category IV | 60,00,000 | 34,32,119 | 0.57 |
TOTAL | 1,50,00,000 | 1,82,98,913 | 1.22 |
9 Jan 2013 | |||
Category I | 22,50,000 | 89,07,600 | 3.96 |
Category II | 22,50,000 | 7,03,574 | 0.31 |
Category III | 45,00,000 | 16,14,920 | 0.36 |
Category IV | 60,00,000 | 30,30,557 | 0.51 |
TOTAL | 1,50,00,000 | 1,42,56,651 | 0.95 |
8 Jan 2013 | |||
Category I | 22,50,000 | 74,50,000 | 3.31 |
Category II | 22,50,000 | 3,68,805 | 0.16 |
Category III | 45,00,000 | 12,14,620 | 0.27 |
Category IV | 60,00,000 | 24,55,568 | 0.41 |
TOTAL | 1,50,00,000 | 1,14,88,993 | 0.77 |
7 Jan 2013 | |||
Category I | 22,50,000 | 70,50,000 | 3.13 |
Category II | 22,50,000 | 3,53,805 | 0.16 |
Category III | 45,00,000 | 8,98,570 | 0.20 |
Category IV | 60,00,000 | 22,11,417 | 0.37 |
Total | 1,50,00,000 | 1,05,13,792 | 0.70 |
4 Jan 2013 | |||
Category I | 22,50,000 | 60,07,600 | 2.67 |
Category II | 22,50,000 | 4,18,069 | 0.19 |
Category III | 45,00,000 | 9,36,770 | 0.21 |
Category IV | 60,00,000 | 22,04,756 | 0.37 |
Total | 1,50,00,000 | 95,67,195 | 0.64 |
3 Jan 2013 | |||
Category I | 22,50,000 | 52,00,000 | 2.31 |
Category II | 22,50,000 | 3,50,800 | 0.16 |
Category III | 45,00,000 | 8,20,270 | 0.18 |
Category IV | 60,00,000 | 18,83,565 | 0.31 |
Total | 1,50,00,000 | 82,54,635 | 0.55 |
2 Jan 2013 | |||
Category I | 22,50,000 | 51,00,000 | 2.27 |
Category II | 22,50,000 | 3,35,800 | 0.15 |
Category III | 45,00,000 | 7,01,850 | 0.16 |
Category IV | 60,00,000 | 16,24,843 | 0.27 |
Total | 1,50,00,000 | 77,62,493 | 0.52 |
31 Dec 2012 | |||
Category I | 22,50,000 | 34,50,100 | 1.53 |
Category II | 22,50,000 | 2,84,800 | 0.13 |
Category III | 45,00,000 | 6,00,750 | 0.13 |
Category IV | 60,00,000 | 12,81,455 | 0.21 |
Total | 1,00,00,000 | 56,17,105 | 0.37 |
28 Dec 2012 | |||
Category I | 22,50,000 | 35,00900 | 1.56 |
Category II | 22,50,000 | 3,49,479 | 0.16 |
Category III | 45,00,000 | 6,11,250 | 0.14 |
Category IV | 60,00,000 | 11,07,044 | 0.18 |
Total | 1,50,00,000 | 55,68,673 | 0.37 |
27 Dec 2012 | |||
Category I | 22,50,000 | 32,50,000 | 1.44 |
Category II | 22,50,000 | 1,45,479 | 0.06 |
Category III | 45,00,000 | 5,63,150 | 0.13 |
Category IV | 60,00,000 | 8,64,418 | 0.14 |
Total | 1,50,00,000 | 48,23,047 | 0.32 |
26 Dec 2012 | |||
Category I | 22,50,000 | 15,50,000 | 0.69 |
Category II | 22,50,000 | 22,979 | 0.01 |
Category III | 45,00,000 | 3,76,700 | 0.08 |
Category IV | 60,00,000 | 4,94,527 | 0.08 |
Total | 1,50,00,000 | 24,44,206 | 0.16 |
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[wptabtitle] Allotment/Listing[/wptabtitle] [wptabcontent]
IIFCL Issue Listing Date :
Listing Date : 25 Jan 2013
Allotment & Listing Details :
Tax Free Bond | India Infrastructure Finance Company Ltd |
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Issue Open | 26 Dec 2012 |
Issue Close | 11 Jan 2013 |
Issue Registrar | Karvy Computershare |
Listing Exchange | BSE |
BSE Script Code | 961752 (10 yrs) & 961753 (15 yrs) 961754 (20 yrs) |
BSE Script ID | 719IIFCL23 & 736IIFCL28 & 740IIFCL33 |
Coupon Rate | 7.19 (10 yrs) & 7.36 (15 yrs) , 7.40 (20 yrs) Additional 0.50 Category IV |
Allotment Date | Jan 22, 2013 |
Listing Date | Jan 25, 2013 |
ISIN No | INE787H07131 (10 Yr Bond) |
INE787H07149 (15 Yr Bond) | |
INE787H07156 (20 Yr Bond) | |
Maturity Date | 22 Jan 2023 (10 yrs) |
22 Jan 2028 (15 yrs) | |
22 Jan 2033 (20 Yrs) | |
Registrar of Issue :
Karvy Computershare Pvt Ltd (check your allotment link)
Trustee for Bondholders :
IL & FS Trust Company Ltd
Depositories :
NSDL & CDSL
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