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Puneinvest > Blog > Bonds > PFC Tax Free Bond 1 Issue- 8.92 % Oct 2013
BondsTax Free Bonds

PFC Tax Free Bond 1 Issue- 8.92 % Oct 2013

Last updated: 2013/10/16 at 7:15 PM
Rajendra Todkar Published October 16, 2013
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Power Finance Company (PFC) launched public Issue of Tax Free Bond Issue

Issue Early closer – 5 Oct 2013    Listing Date – 20 Nov 2013

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[wptabtitle] Product Note[/wptabtitle] [wptabcontent]Issue Highlight –Tranche 1 [ws_table id=”221″]

Issue Structure –

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Cheque Details-  

Retail Investor                  : ” PFC Tax Free Bonds 2013-Escrow Account – R “

 

NRI  Investor 

Repatriation basis       :  ”  PFC TAX FREE BONDS 2013 – ESCROW ACCOUNT – NR REPAT“

Non Repatriation basis: “PFC TAX FREE BONDS 2013 – ESCROW ACCOUNT – NR NON – REPAT  “

 Note :   Application will be rejected if banked without uploading in the electronic system of the recognized stock exchange. (Bidding process)

Bankers :  Axis Bank, Kotak Bank , HDFC Bank, IDBI Bank, ICICI Bank, IndusInd Bank , SBI , Union Bank , PNB, Yes Bank [/wptabcontent]

[wptabtitle] About Issue[/wptabtitle] [wptabcontent]About the Issuer

  • Conferred with Mini Ratna ( Category – I ) status in 1998 and notified as a Navratna company by the Govt. of India in 2007.
  • Listed government company and public financial institution providing comprehensive range of financial products and related advisory services from project conceptualization to post-commissioning stage for clients in the power sector
  • Registered with RBI as a non-deposit taking systemically important NBFC classified as an IFC in July 2010
  • PFC is an integral part of, and continues to play a strategic role in, GoI’s initiatives for development of power sector in India.

 Business Activities

  • Comprehensive range of financial products to clients in power sector :
    • Fund-based financial products including long-term project finance short-term loans, buyer’s line of credit and debt refinancing schemes.
    • Non-fund based assistance including default payment guarantees and letters of comforts
  • Fee-based technical advisory and consultancy services for power sector projects

Financial Performance

  • Total loan assets increased from 1,60,366.60 Cr. As on Mar 31., 2013
  • Total ncome  4419.60 Cr as on 31 Mar., 2013
  • Profit after Tax 4419.60 Cr. As on 31 Mar., 2013
  • Gross NPAs  1134.52 Cr. As on 31 Mar., 2013
  • Net worth as of March 31, 2013 was 22,351.41 Cr. (0.71% of total loan assets)
  • Capital adequacy ratio  17.98 % as on Mar 31 2013

 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. ( Tax Free Bond Interest  not part of Total Income)
  • No deduction of TDS from the interest
  • No upper limit on investment amount
  • No lock in period for the Bonds
  • The Bonds shall be listed and can be traded on BSE
  • Capital Gain Benefit – capital gain arising on the transfer of listed bonds shall be taxed @ 10% without Indexation or @20% with Indexation.

 Pre Tax Returns are very attractive[ws_table id=”223″]

 

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[wptabtitle] How to Apply[/wptabtitle] [wptabcontent]

 

First read details about Issue & clear all doubts before apply Issue. If follow process 100% allotment chances.  Major reason for rejection is non proper filling Form.

  • Every Application Form is unique Application No. (Same Application No use by two Applicant
  • Bidding Process : Application will be rejected if banked without uploading in the electronic system of the recognized stock exchange
  • Allotment on First come First serve Basis , Are you interested to Invest then submit Form early as possible (Application money Interest paid by Issuer )

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[wptabtitle]Listing[/wptabtitle] [wptabcontent][ws_table id=”235″][ws_table id=”236″]

Listing Date :

Allotment Date :

 

Registrar of Issue :      Karvy Computershare Pvt Ltd

Allotment link               After issue closed updated

Trustee for Bondholders : IL & FS  Trustee Company Ltd

 Depositories :  NSDL & CDSL

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Application Form & Investment Call : Rajendra 800 775 0904

Contact Us

rajendra@puneinvest.com

Mobile 7719917444

 

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