IDFC Infra Bond Tranche 3

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IDFC Infra Bond Tranche 3: Tax Benefit u/s 80CCF

 

Issuer Infrastructure Development Finance Company Limited (IDFC)
Issue of Tranche 3 Bonds Public issue of long term infrastructure bonds of face value of Rs. 5,000 each, in the nature of secured, redeemable, non-convertible debentures, having benefits under section 80CCF of the Income Tax act, 1961. The Third Tranche of Bonds is for an amount not exceeding Rs. 37,000 million.
Issue opening date 19 March 2012
Issue closing date 30 March 2012 * (Issue Details)
Rating “AAA” from ICRA and “AAA(ind)” from Fitch
Tax Benefits The investment up to Rs 20,000 made will be eligible for tax benefits in the year of investment under Section 80 CCF of the Income Tax Act, 1961
Who can apply? Indian Nationals Resident in India & Hindu Undivided Families (HUFs)
Minimum application Rs. 10,000 & in multiple of Rs. 5,000
(Two Tranche 3 Bonds and in multiples of one Tranche 3 Bond thereafter)
Market lot One Tranche 3 Bond
Security First pari passu floating charge over the Secured Assets and first fixed pari passu charge over specified immovable properties of the Company
Security cover 1.0 time the outstanding Tranche 3 Bonds at any point of time.
Lock-in period Five years from the Deemed date of allotment
Trading Dematerialised form only following expiry of the lock-in period
Maturity date Ten years from the Deemed date of allotment
Buyback date Date falling five years and one day from the Deemed date of allotment
Buy-back intimation period The period beginning not before nine months prior to the Buy-back Date and ending not later than six months prior to Buyback date.

Specific terms for each series of Tranche 3 Bonds

Series 1 2
Frequency of Interest payment Annual Cumulative
Face value per Tranche 3 Bond – Rs 5,000 5,000
Issue Price per Tranche 3 Bond – Rs 5,000 5,000
Buy-back facility Yes Yes
Buy-back amount per Tranche 3 Bond – Rs. 5,000 7,495
Tenor (from the Deemed Date of Allotment) 10 years 10 years
Interest Rate 8.43% p.a. N.A
Maturity Amount – Rs. 5,000 11,230
Yield on Maturity/Buyback 8.43 % 8.43% compounded annually

 

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