IREDA Tax Free Bonds Subscription Bv Rao Ireda

Sir I want the details for the Indian Renewable Energy Development Agency (IREDA Tax Free Bonds Subscription so can you tell me the same

[Pathak]

Ministry of New and Renewable Energy or MNRE is a ministry of Government of India.

The ministry is currently headed by Piyush Goyal, a Cabinet Minister.

The ministry was established as the Ministry of Non-Conventional Energy Sources in 1992.

Well Just like bank fixed deposits (FDs), tax-free bonds offer fixed interest to subscribers. While bank FDs attract income tax (I-T) according to the standard tax slabs (10%, 20% and 30%), tax-free bonds allow I-T exemptions on long-term investment gains.


Hey the Rs 1,000 crore tax-free bond issue of Indian Renewable Energy Development Agency (IREDA), the first issue of Calendar 2016, sold like hot cakes as soon as it opened for subscription .

The issue received bids for about 5.09 crore bonds, or 509%, for the 1 crore bonds available for sale on a cumulative basis on the stock exchanges on Friday, BSE data showed.

The bonds offer between 7.28% and 7.68% tax-free returns per year for tenures ranging from 10 to 20 years. NHPC offered 7.6% for its tax-free bonds issued last month.

Tax-free bond issues of public sector companies have attracted huge interest among both retail and non-retail investors in recent months.

The National Highways Authority of India (NHAI) bond issue got subscribed 22 times last month.

NTPC pre-closed its Rs 700-crore tax-free bond issue last September after it was subscribed 11.04 times on the first day.

The bond issue of IRFC (Indian Railway Finance Corporation), which was open between December 8 and 10, was subscribed 10.84 times.