#1
13th February 2016, 11:30 AM
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IREDA Public Issue
Can you provide me the details of the IREDA (Indian Renewable Energy Development Agency) Public Issue of Tax Free Bonds?
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#2
13th February 2016, 11:32 AM
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Re: IREDA Public Issue
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 |