Rural Electrification Corporation (REC) is coming out with the first tax free bond issuance of this fiscal to raise 1000 Cr. with an over subscription option of 3850 Cr aggregated 4850 Cr. Investor in high Tax bracket effective yield comes to 12.44%.
Issue Closes on 17th September 2013 –
Allotment Done – 26 Sep 2013 check your dmat a/c
Listing Date – 30 Sep 2013 [wptabs style=”smoothness” mode=”horizontal”]
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[wptabtitle] Product Note[/wptabtitle] [wptabcontent]Issue Highlight -Tranche 1
| Issuer | Rural Electrification Corporation Ltd ( REC) Tranche-1 |
|---|---|
| Type of Instrument | Secured, Redeemable, NCD |
| Issue Open | 30 Aug 2013 |
| Issue Close | 23 Sep. 2013 |
| Issue Size | 1,000 Cr. with an option to retain oversubscription of 3850 Cr. aggregating upto 4850 Cr |
| Face Value | Rs. 1,000 |
| Min. Application Size | 5 Bonds (Rs.5000) & multiply of 1 Bond thereafter (across all series bonds) |
| Interest | Annually |
| Mode of Allotment | D'mat & Physical Form |
| Rating | CARE AAA by CARE , AAA by CRISIL Rating |
| Listing | NSE/BSE |
Issue Structure –
| Options | Series 1 | Series 2 | Series 3 |
|---|---|---|---|
| Tenor | 10 years | 15 years | 20 years |
| Coupon Rate % | |||
| Category - I, II, III | 8.01% | 8.46% | 8.37% |
| Category - IV (Retail) | 8.26%* | 8.71%* | 8.62% |
Cheque Details-
Retail Investor :
Bankers : [/wptabcontent]
[wptabtitle] About Issue[/wptabtitle] [wptabcontent]
About the Issuer
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.
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[wptabtitle] Allotment/Listing[/wptabtitle] [wptabcontent]
Listing Date :
Allotment Date :
REC Tax Free Bond Tranche I – Allotment Details :
| Tax Free Bond | Rural Electrification Corporation Ltd. (Tranche 1)-- REC |
|---|---|
| Issue Open | 30 Aug 2013 |
| Issue Close | |
| Issue Registrar | Karvy Computershare |
| Listing Exchange | BSE |
| BSE Script Code | |
| BSE Script ID | |
| Coupon Rate | 8.01 (10 yrs) & 8.46 (15 yrs) 8.37 (20 yrs) Additional 0.25 Category IV |
| Allotment Date | |
| Listing Date | |
| ISIN No | |
| Maturity Date | 2023 (10 yrs) |
| 2028 (15 yrs) | |
Registrar of Issue :
Karvy Computershare Pvt Ltd
Depositories :
NSDL & CDSL
Are you interested to know brokerage structure,mail : rajendra @puneinvest.com
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REC Tax Free Bond Application Form & Investment Call : Rajendra 7719917444
Please send a application form of REC Tax Free Bond – Tranche 1 – Sep 2013 to the above said mail.
Hi Rajendra,
I have downloaded the form online for the REC bonds. Can you please advise me where in Pune can I submit this application?