Power Finance Corporation Tax Free Bond – Tranche II is launching a Tax Free Bond Issue to raise up to Rs. 3,890.25 Cr.
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[wptabtitle] Product Note[/wptabtitle] [wptabcontent]
Issue Highlight –
| Issuer | Power Finance Corporation Ltd (PFC) |
|---|---|
| Type of Instrument | Secured |
| Issue Open | 18 Feb 2013 |
| Issue Close | 15 Mar 2013 |
| Issue Size | Upto Residual Shelf Limit ( i.e. 3,890.25 cr) |
| Face Value | Rs. 1,000 |
| Min. Application Size | 5 Bonds (Rs.5000) & multiply of 1 Bond thereafter |
| Interest | Various Mode |
| Mode of Allotment | D'mat & Physical Form |
| Rating | CRISIL AAA/Stable by CRISIL CARE AAA by CARE , |
| Listing | BSE |
Issue Structure –
| Options | Series 1 | Series 2 |
|---|---|---|
| Tenor | 10 years | 15 years |
| Coupon Rate % (Interest) | ||
| Category - I, II, III | 6.88% | 7.04% |
| Category - IV (Retail) | 7.38%* | 7.54%* |
| Frequency of Interest | Through various mode available | Through various mode available |
| Redemption Date | At the end of 10 Yr. from Deemed date of allotment | At the end of 15 Yr. from Deemed date of allotment |
*Additional Interest of 0.50% p.a. shall only be available to the original Allottees under category IV. In the event of Sold/transfer , the Coupon rate shall stand revised to the coupon rate applicable for allottee falling under Category I, II , III.
Cheque Details-
Retail Investor : ” PFC Tax Free Bond 2012 – Escrow Account – R “
Bankers : Axis Bank, IDBI Bank, IndusInd Bank, Kotak Mahindra Bank, ICICI Bank, , SBI,
Yes Bank, HDFC Bank
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[wptabtitle] About Issue[/wptabtitle] [wptabcontent]
About the Issuer
PFC,
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]
Subscription details for PFC Tax Free Bonds Day wise .
| Category | No of Bond Offer | No of bond Bid | No. of time subscribe |
|---|---|---|---|
| 11 Mar 2013 | |||
| Category I | 2,50,000 | 000 | 000 |
| Category II | 1,50,000 | 2,800 | 0.02 |
| Category III | 2,00,000 | 26,000 | 0.13 |
| Category IV | 4,00,000 | 7,31,529 | 1.83 |
| Total | 10,00,000 | 7,60,329 | 0.76 |
| 06 Mar 2013 | |||
| Category I | 2,50,000 | 000 | 000 |
| Category II | 1,50,000 | 2,800 | 0.02 |
| Category III | 2,00,000 | 28,000 | 0.14 |
| Category IV | 4,00,000 | 5,50,575 | 1.38 |
| Total | 10,00,000 | 5,81,375 | 0.58 |
| 04 Mar 2013 | |||
| Category I | 2,50,000 | 000 | 000 |
| Category II | 1,50,000 | 2,800 | 0.02 |
| Category III | 2,00,000 | 23,000 | 0.12 |
| Category IV | 4,00,000 | 5,22,819 | 1.31 |
| Total | 10,00,000 | 5,48,619 | 0.55 |
| 01 Mar 2013 | |||
| Category I | 2,50,000 | 60 | 000 |
| Category II | 1,50,000 | 2,800 | 0.02 |
| Category III | 2,00,000 | 12,000 | 0.06 |
| Category IV | 4,00,000 | 4,24,755 | 1.06 |
| Total | 10,00,000 | 4,39,615 | 0.44 |
| 27 Feb 2013 | |||
| Category I | 2,50,000 | 000 | 000 |
| Category II | 1,50,000 | 2,800 | 0.02 |
| Category III | 2,00,000 | 12,000 | 0.06 |
| Category IV | 4,00,000 | 3,67,786 | 0.92 |
| Total | 10,00,000 | 3,82,586 | 0.38 |
| 26 Feb 2013 | |||
| Category I | 2,00,000 | 000 | 000 |
| Category II | 1,50,000 | 2,800 | 0.02 |
| Category III | 2,00,000 | 5,000 | 0.03 |
| Category IV | 4,00,000 | 3,40,550 | 0.85 |
| Total | 10,00,000 | 3,48,350 | 0.35 |
| 25 Feb 2013 | |||
| Category I | 2,50,000 | 000 | 000 |
| Category II | 1,50,000 | 2,800 | 0.02 |
| Category III | 2,00,000 | 5,000 | 0.03 |
| Category IV | 4,00,000 | 2,91,292 | 0.73 |
| Total | 10,00,000 | 2,99,092 | 0.30 |
| 20 Feb 2013 | |||
| Category I | 2,50,000 | 000 | 000 |
| Category II | 1,50,000 | 1,800 | 0.01 |
| Category III | 2,00,000 | 000 | 000 |
| Category IV | 4,00,000 | 1,37,860 | 0.34 |
| Total | 10,00,000 | 1,39,600 | 0.14 |
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[wptabtitle] Allotment/Listing[/wptabtitle] [wptabcontent]
Listing Date :
The Bond will listed on BSE within 12 working days of the issue closing date.
PFC Tax Free Bond Allotment Listing Details PDF
Registrar of Issue :
MCS Ltd
Trustee for Bondholders :
Depositories :
CDSL/ NSDL
Interest Payment Date :
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[wptabtitle] Downloads[/wptabtitle] [wptabcontent]
Document related to ongoing Tax Free Bond Issue :
- Tax Free Bond
Note : Application must be bided before getting submitted with the collection bankers. Kindly ensure to be applications at your broker before banking.
Issue Brokerage structure
Shortly Update Brokerage Structure about this product
Are you interested to know brokerage structure in your Inbox mail : rajendra@puneinvest.com
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