IREDA Public Issue

Can you provide me the details of the IREDA (Indian Renewable Energy Development Agency) Public Issue of Tax Free Bonds?

[Shaleen]

IREDA (Indian Renewable Energy Development Agency) is a Government of India enterprise. It has announced the public issue of its Tax Free Secured Redeemable Non-Convertible Bonds, for the financial year 2015-16 on January 8, 2016.

Details of IREDA's Public Issue of Tax Free Bonds:

Bond Tenure : 10 years, 15 years and 20 years
Face value : Rs.1,000 per bond
Minimum subscription : Rs.5,000 (5 bonds of Rs.1,000 each)
Issue period : Jan 8 to 22, 2016 (with an option for early closure or extension)

Rate of interest :
Retail Investors : 10-yr bonds - 7.53%. 15-yr bonds - 7.74%. 20-yr bonds - 7.68%.
Other Investors : 10-yr bonds - 7.28%. 15-yr bonds - 7.49%. 20-yr bonds - 7.43%.
Interest payment : Payable annually

Retail Investors : Individuals and HUFs investing up to Rs.10 lakhs.
High Net Worth Individuals : Individuals and HUFs investing more than Rs.10 lakhs.
(Note: NRIs are not eligible to apply for these bonds.)

Issue size : Total size (including over subscription) = Rs.1,716 crores.
Allotment : 40% of the issue size is reserved for retail investors, which would be allotted on 'First Come First Serve' basis

Rating : ICRA AA+ and IRRPL AA+

Liquidity : To be listed on BSE only
Loan : Borrowing permitted by pledging these bonds
Put / Call : No put or call option
Form : Both in Physical and Dematerialized form
Nomination : Allowed

Permanent Account Number (PAN) : Mandatory

Coupon Rates on Offer