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Published on Friday, December 6, 2013 by Dilip Davda
India Infrastructure Finance Company Ltd. (IIFCL) is coming out with its Tranche III tax Free NCDs issue on 09.12.13. The company is floating NCDs worth Rs. 1000 crore with a green shoe option of retaining oversubscription to the tune of Rs. 2000 crore, thus making the total offer size of Rs. 3000 crore.
Each NCD is having a face value of Rs. 1000 and minimum application is to be made for 5 (Five) NCDs (Rs. 5,000) either taken individually or collectively. The issue that opens on 09.12.13 will close on or before 10.01.2014. The NCDs have six options and has coupon rates ranging from 8.41% to 8.91% and tenure of 10, 15 and 20 years.
These instruments are rated [ICRA] AAA (Outlook: Stable) by ICRA, BWR AAA (Outlook: Stable) by Brickwork, CARE AAA by CARE, IND AAA (Stable) by India Rating & Research Private Limited. The issue is lead managed by SBI Capital Markets Limited, A. K. Capital Services Limited, Axis Capital Limited, ICICI Securities Limited, Karvy Investor Services Limited and RR Investors Capital Services Private Limited. Post allotment, these NCDs will be listed on BSE. IL & FS Trust Company Ltd is the Bond’s Trustee for this offer. Karvy Computershare Private Limited is acting as registrar to the offer.
Investors looking at regular tax free returns for longer tenure should not miss this offer
DISCLAIMER: No financial information whatsoever published anywhere here should be construed as an offer to buy or sell securities, or as advice to do so in any way whatsoever. All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decisions. Readers must consult a qualified financial advisor prior to making any actual investment decisions, based on information published here. Any reader taking decisions based on any information published here does so entirely at own risk. Investors should bear in mind that any investment in stock markets are subject to unpredictable market related risks. Above information is based on RHP and other documents available as of date coupled with market perception. Author has no plans to invest in this offer.
(SEBI registered Research Analyst-Mumbai).
About Dilip Davda
Dilip Davda is veteran journalist associated with stock market since 1978. He is contributing to print and electronic media on stock markets/insurance/finance since 1985.
Dilip Davda is a leading reviewer of public issues and NCDs in the primary stock market in India. The knowledge he gained over 3 decades while working in the stock market and a strong relationship with popular lead managers makes his reviews unique. His detail fundamental and financial analysis of companies coming up with IPO helps investors in the primary stock market. Dilip Davda has a special interest in analyzing the SME companies and writing reviews about their public issues. His reviews are regularly published online and in news papers.
Email: dilip_davda@rediffmail.com
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