REC Tax Free Bonds issue opens 30th August,2013

 

REC Tax Free Bonds issue opens 30th August,2013

 

REC’s public issue of Secured Redeemable Tax-Free Bonds closes 23rd September, but the opportunity may be over soon in case the company gets necessary funds

State-run Rural Electrification Corp (REC) public issue of Secured Redeemable Tax-Free bonds will open for subscription on 30th August. The issue closes 23rd September, but the opportunity may be over soon in case the company gets necessary funds quickly from early subscribers.
 

The tranche issue by the issuer is of bonds for an amount of Rs1,000 crore with an option to retain oversubscription upto Rs2,500 crore aggregating upto Rs3,500 crore. REC will use the capital raised through this bonds for lending purposes.
 

The tax-free coupon rate on these bonds will be 8.26%, 8.71% and 8.62% for 10, 15 and 20 years respectively. Non-retail investors will get 0.25% lower rate; it will be 8.01%, 8.46% and 8.37% for 10, 15 and 20 year respectively.
 

The issue will have a 40% reservation for retail investors, while 20% each for high-networth individuals (HNIs), corporates and qualified institutional buyers (QIBs).

The lead managers to the issue are ICICI Securities, A K Capital Services, Axis Capital and Edelweiss Financial Services.

 

Note : For more details, please contact the Issue/Lead Managers

 

Post Your Comments


Enter the above code

 
Comments
Latest Updates
  • Indian expatriates in the Gulf and those intending to go there on work should expand their initials in their ...
  • Taxman turns lens on domestic assets of high net-worth individuals The Income-Tax Department is zeroing in on ...
  • Levy Cheque return charges only if customer is at fault - RBI Circular
Recent Posts
Small Savings Scheme PPF,SCSC, Sukanya Samridhi NSC etc. Revised Interest Rates
Customs Baggage Rule
Budget 2016 Highlights (Direct Tax)
CHANGES IN CUSTOMS BAGGGE DECLARATION REGULATIONS
Economic Survey 2015-16
Interest Rates of Small Saving Schemes to be revised on a Quarterly Basis w. e. f 01/ 04 /2016
Government of India extended the last date for applying for conversion of PIO cards to OCI cards to June 30th 2016 from March 31.
Highlights of the Railway Budget 2015-16
Featured Video
  • Keralarealestatesite
  • NRI Guide 2013
  • NRI Guide 2013
  • Financial planning
  • Financialplanng
  • logo