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HUDCO Tax Free Bonds - Opening on 9 Jan 2013‏

Discussion in 'Mutual funds and Exchange Traded Funds' started by real_buzz, Jan 8, 2013.

  1. real_buzz Moderator

    HUDCO Tax Free Bonds - Opening on 9 Jan 2013

    Issue Period: 9 Jan 2013 to 22 Jan 2013
    Key Benefits:
    HUDCO is fully owned by the government of India
    Credit Ratings: CARE AA+ by CARE and IND AA+ by IRRPL (Fitch)
    Interest on these Bonds is Tax-Free, no TDS is applicable, Wealth Tax is not levied
    No lock in period and no upper limit on investment amount
    Issue Size: Rs 750 Crore with an option to retain oversubscription upto Rs 5,000 Crore
    Additional Coupon Rate of 0.50% p.a. for Category IV Applicants
    Eligible NRIs can invest in Category III or IV
    Issue Structure: Issue of Tax Free Secured Redeemable Non Convertible Bonds

    Options / Series of Bonds Series 1 Series 2
    Tenor 10 years 15 years
    Coupon Rate % p.a. (Category I, II and III) 7.34 7.51
    Additional Coupon Rate % p.a. (Category IV) 0.50 0.50
    Total Coupon Rate % p.a. (Category IV) 7.84 8.01
    Frequency of Interest payment Annual Annual
    Face Value / Issue Price per Bond Rs 1,000
    Minimum Application Rs 5,000 (in multiples of Rs 1,000 thereafter)
    Issuance Physical and Demat mode
    Interest on application % p.a. As per coupon rate applicable to investor category
    Interest on refund % p.a. 5.0
    Proposed to be listed on NSE

    Basis of Allotment: On first come first serve basis

    Investor Category

    I - Institutional -- 25%
    II - Non Institutional -- 15%
    III - HNI (more than 10 lacs) -- 20%
    IV - Retail (upto and including 10 lacs) -- 40%

    When Bonds held by the original allottees of Category IV are sold / transferred, coupon rate will be revised to the coupon rate for Category I, II & III investors. Refer to details.

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