India Infra. Fin. Co. Ltd – Tax Free Bond Issue 26 Dec 12

 

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
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)

IIFCL Tax Free Bond Allotment Listing PDF

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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