Over the years, India Infrastructure Finance Company Limited (IIFCL) has been playing an active role in financing Infrastructure projects in the Sectors like Power, Roads & Highways, Ports, Airports, Renewable Energy, Urban Infrastructure etc as per its mandate across the country.
As on 30thSeptember 2012, IIFCL’s Net-worth was Rs 4806.63 Crore with a Balance Sheet size of Rs 33,980.57 Crore.
IIFCL has been authorised by CBDT vide notification no. 46/2012.F.No.178/60/2012-(ITA.I) dated 06th November 2012 to issue Tax Free Bonds aggregating up to Rs 10,000 crore in the financial year 2012-13 out of which IIFCL has already raised Rs. 785 crores through private placement.
Now, IIFCL is planning to raise Rs.1500 crore with Green Shoe Option up to the shelf limit of Rs.9215 crore on first come first basis through public issue of Tax Free Bonds in FY2012-13 informed Harsh Kumar Bhanwala, Executive Director, IIFCL addressing the media here at Hyderabad today.
The bond issue will remain open from 26thDecember 2012 to 11th January 2013, and the coupon rates are as under.
|Investors type||10 Yr||15 yr||20 Yr|
|Retail Individual Investors||7.69% p.a.||7.86% p.a.||7.9% p.a.|
|QIBs, Corporates & HNIs||7.19% p.a.||7.36% p.a.||7.40% p.a.|
Minimum amount of application is Rs 5000/- with face value of Rs 1000/- per bond informed Dr. E. Sankara Rao, Chief General Manager, IIFCL.
The exclusive features of IIFCL and these bonds are:
Ø IIFCL is a financial institution wholly owned by Government of India
Ø The bonds have been rated AAA by ICRA, CARE and Brickworks
Ø Rare opportunity to invest for long term (up to 20 years) in Tax Free Bonds.
Ø IIFCL’s Diversified infrastructure portfolio growing at a fast pace.
Ø Institution with one of the best employee productivity in the country.
Ø No cap on investment in these bonds.
Ø These bonds are tradable in the market.
Ø No Lock-in period
Image Courtesy to LiveMint