IDFC jumps on plan to raise about Rs 1,500 crore via retail bonds

IDFC Ltd. - (Amalgamated) | Finance - NBFC | BFSI | BSE: 532659 | NSE: IDFC

22 Nov 2011 Evaluate

IDFC is currently trading at Rs. 109.25, up by 2.35 points or 2.20% from its previous closing of Rs. 106.90 on the BSE.

The scrip opened at Rs. 106.75 and has touched a high and low of Rs. 109.45 and Rs. 106.75 respectively. So far 101559 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 194.00 on 02-Dec-2010 and a 52 week low of Rs. 103.20 on 26-Aug-2011.

Last one week high and low of the scrip stood at Rs. 116.05 and Rs. 106.25 respectively. The current market cap of the company is Rs. 15642.97 crore.

The Institutions holding in the company stood at 84.50% while Non-Institutions held 15.50% respectively.

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.

IDFC-(Amalgamated) Share Price

108.00 0.00 (0.00%)

09-Oct-2024 16:01 View Price Chart

Peers

Company Name	CMP
Bajaj Finance	959.35
Shriram Finance	1005.70
Aditya Birla Capital	373.90
Chola Invest & Fin.	1679.55
Tata Capital	339.50
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