Issuer | IFCI Limited ("the Issuer") |
Offering | 2,00,000 Unsecured, Redeemable, Non-Convertible Bonds of Rs. 5,000/- each aggregating to Rs. 100 Crore with a green-shoe option to retain over-subscription for issuance of additional Infrastructure Bonds |
Type | Private Placement basis |
Instrument | Unsecured, Redeemable, Non-Convertible Bonds Series II having benefits under section 80 CCF of the Income Tax, 1961 for long term Infrastructure Bonds |
Rating | BWR AA- by BRICKWORK RATINGS INDIA PVT LIMITED |
Eligible Investors | Resident Indian Individual (Major) and HUF through Karta of the HUF |
Security | Unsecured |
Face Value | Rs. 5,000/- per bond |
Issue Price | At par (Rs. 5,000/- per bond) |
Minimum Subscription | 1 Bond and in multiples of 1 Bond thereafter, |
Tenure | 10 years, with or without buyback option after five years |
Options for Subscription | The Bonds are offered under the following 4 options- • Option I - Non-cumulative and Buyback after 5 years • Option II - Cumulative and Buyback after 5 years • Option III - Non-cumulative and no Buyback • Option IV - Cumulative and no Buyback |
Redemption / Maturity | At par at the end of 10 years from the deemed date of allotment. For Cumulative Option, at par with cumulated interest thereon. |
Coupon rate | • Option I & II - 8% p.a. • Option III & IV - 8.25% p.a. Option II and Option IV will have cumulative payment at the end of the Buyback period or 10 years, as per the option opted by the Investor. |
Listing | Proposed to be listed on BSE |
Trustee | Axis Trustee Services Limited |
Depository | National Securities Depository Ltd. and Central Depository Services (India) Ltd. |
Registrars | Beetal Financial & Computer Services (P) Ltd. |
Mode of Payment | Interest payment will be made through ECS/At Par Cheques/Demand Drafts |
Issuance | Demat form. But, investors interested for physical form may provide a cancelled cheque, self-certified copies of PAN Card and residential proof |
Trading | Demat mode only following expiry of lock-in period |
Issue Open Date | November 16, 2010 |
Issue Close Date | December 31, 2010 • The issuer would have the right to pre-close the issue or extend the closing date by giving 1 day notice to the Arrangers |
Deemed Date of Allotment | January 31, 2011 |
Buyback dates | January 31 every year commencing from year 2016 till year 2020. |
Tuesday, December 21, 2010
IFCI Tax Saving Long Term Infrastructure Bonds– SERIES II
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