Mumbai-based Infrastructure Development Finance Company (IDFC) is mulling to raise a total of Rs 5,000 crore in the current financial year through retail bonds, in various tranches. In the first tranche, the company hopes to raise about Rs 1,500 crore which is almost the same as it raised in the last financial year.
The issue has opened for subscription from November 21 and will close on December 16 or earlier. The face value of the bonds is Rs 5,000. Investment up to Rs 20,000 is eligible for tax exemption under Section 80CCF.
The infrastructure finance company will be offering 9 per cent interest on the first tranche of the tax-saving long-term infrastructure bonds. The bonds will carry a minimum lock-in period of five years from the date of allotment and can be redeemed after 10 years from the date of allotment. The minimum subscription is Rs 10,000 and in multiples of Rs 5,000 thereafter.
Last year, the company had raised Rs 1,451 crore through the retail bonds from over 7.3 lakh retail investors.
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Bajaj Finance | 7340.75 |
Shriram Finance | 2732.05 |
Aditya Birla Capital | 239.95 |
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L&T Finance | 181.85 |
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