IREDA Tax Free Bonds Interest Payment Date

Which date is decided for interest payment by India Renewable Energy Development Agency Ltd (IREDA) for interest on Tax Free Bonds?

[Shaleen]

IREDA will make its first interest payment exactly one year after the date of allotment of Tax Free Bonds .

IREDA Tax Free Bonds
Size of the Issue –
IREDA is authorized to raise Rs. 2,000 crore from tax free bonds in 2016 financial year.

Rating of the Issue –
ICRA and India Ratings have assigned ‘AA+’ rating to the issue.

Previous issues were rated ‘AAA’, this is the first issue this financial year which is rated AA+.

Investor Categories & Allocation Ratio –
Investors have been classified in the following categories :

Category I –
Qualified Institutional Bidders (QIBs) –
20% of the issue is reserved i.e. Rs. 343.20 crore

Category II –
Non-Institutional Investors (NIIs) –
20% of the issue is reserved i.e. Rs. 343.20 crore

Category III –
High Net Worth Individuals including HUFs –
20% of the issue is reserved i.e. Rs. 343.20 crore

Category IV –
Resident Indian Individuals including HUFs –
40% of the issue is reserved i.e. Rs. 686.4 crore

Minimum & Maximum Investment –
Investors are required to put in a minimum investment of Rs. 5,000 in (at least 5 bonds of face value Rs. 1,000 each.)
There is no upper limit for the investors to invest.