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Friday, September 23, 2011

IFCI Tax Saving Infrastructure Bonds– SERIES III Save Tax u/s 80CCF Issue closes: 14 Nov 2011

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About the company :About the company :


IFCI was established in the year 1948 by an Act of Parliament to provide institutional finance for industrial development in the country. Its lending policies over the last 60 years, objective of providing medium and long term assistance to the industrial sector to fulfil industrial development in the country.
Subsidiaries:
Information & Credit Rating Agency of India Ltd. (ICRA), LIC Housing Finance Ltd., GIC Housing Finance Ltd.,Tourism Finance Corporation of India Ltd. (TFCI), IFCI Venture Capital Fund, IFCI Financial Services Ltd., IFCI Infrastructure Development Ltd., Management Development Institute, Asset Care Enterprise Ltd. (ACE), etc


Salient features of the issue:



� Public issue of bonds by an infrastructure finance company under Sec 80 CCF
� These bonds will be issued only to Resident Indian Individuals (Major) and HUF.
� Security : The bonds are fully secured with Exclusive first charge on specific receivables of the Company with an asset cover of one time of the total outstanding amount of Bonds and first pari-passu mortgage/charge on the leasehold rights on land.
� The Bonds bear an attractive combination of coupon rate ranging between 8.50% and 8.75% p.a. coupled with tax benefits of upto Rs 20,000 under Sec 80 CCF.
� There are 4 investment options, suiting the needs of different categories of investors
� The bonds will be issued in either demat form or physical form at the option of bondholders
� No TDS shall be deducted for bonds issued in demat form. In case of bonds issued in physical form, TDS will deducted in case interest amount exceeds Rs.2,500 p.a.

� Interest payment will be made through ECS/At Par Cheques/Demand Drafts.

 � Investors can mortgage or pledge these bonds to avail loans after the lock-in period.


Deemed date of allotment-                    December 12, 2011.
 Cheque Name                 :                  IFCI Limited - Infra Bond”

For physical bonds, self attested copies of address proof, PAN Card and a cancelled or copy of cheque of the bank account mentioned above are to be attached

Face Value:
Rs.  5,000/- per bond


Issue Price:
At par of Rs. 5,000/- per bond.  Minimum subscription is Rs. 5000 and in multiples of Rs. 5000 (1 bond) thereafter.

OPTION   -  I 

     Interest Payment Frequency          :          Cummulitive
     Min Application                            :          One Bond
     Buy Back Option                          :          Yes
    Coupon (Interest Rate)                  :           8.5%   Annual Compounding
    Coupon Payment Date                  :           At the time of Redemption
    Maturity Date                               :           12-Dec-21
    Maturity Amt                                :          11305

Redemption Amount, (in case the buyback option is exercised)(Rs.):

   5 Year                                         :            7519    
   7 Year                                         :            8851

OPTION   -  II

     Interest Payment Frequency            :          Annual
     Min Application                              :          One Bond
     Buy Back Option                           :          Yes
    Coupon (Interest Rate)                   :           8.5%  Dec 12 every Year
    Coupon Payment Date                   :           At the time of Redemption
    Maturity Date                                :           12-Dec-21
    Maturity Amt                                 :          5000

Redemption Amount, (in case the buyback option is exercised)(Rs.):

   5 Year                                         :            5000
   7 Year                                         :            5000


OPTION   -  III 

     Interest Payment Frequency           :          Cummulitive
     Min Application                             :          One Bond
     Buy Back Option                          :          Yes
    Coupon (Interest Rate)                  :           8.75%   Annual Compounding
    Coupon Payment Date                  :           At the time of Redemption
    Maturity Date                               :           12-Dec-26
    Maturity Amt                                :          17596

Redemption Amount, (in case the buyback option is exercised)(Rs.):

   7   Year                                         :            8995
   10 Year                                         :            11565
  12 Year                                         :            13682

OPTION   -  IV

    Interest Payment Frequency           :          Annual
    Min Application                             :          One Bond
    Buy Back Option                           :          Yes
    Coupon (Interest Rate)                  :           8.75%  Dec 12 every Year
    Coupon Payment Date                  :           At the time of Redemption
    Maturity Date                               :           12-Dec-26
    Maturity Amt                                :          5000

Redemption Amount, (in case the buyback option is exercised)(Rs.):

    7   Year                                         :            5000
   10 Year                                         :            5000
   12 Year                                         :            5000


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