India Infrastructure Finance Company Limited [ IIFCL]

India Infrastructure Finance Company Limited [ IIFCL] Tax Free Bond Feb 2014 Tax Free Interest Rate up to 8.80% p.a. ,Pre Tax Rate 12.74% p.a.

 India Infrastructure Finance Company Limited [ IIFCL] Company Profile

IIFCL is wholly-owned ‘Government company‘. Commenced its operations in April 2006 and were notified as a public financial institution in January 2009. Provide financial assistance to long-term infrastructure projects in the sectors as per the Harmonized list.
Provide refinance for loans sanctioned by banks and other eligible institutions, in accordance with the eligibility criteria set out in the refinance scheme.In accordance with Government of India policy to boost infrastructure development through PPP projects, their lending initiatives are primarily focused on PPP projects, or projects awarded through competitive bidding The Company has three wholly owned subsidiaries,India Infrastructure Finance Company (UK) Limited (“IIFC (UK)”),IIFCL Projects Limited (“IPL”) and IIFCL Asset Management Company Limited (“IAMCL”). IIFCL is also a contributor, along with IDFC and Citigroup Inc., in the India Infrastructure Fund (“IIF”), constituted in February 2007 to facilitate large scale capital investments in infrastructure assets in India through a combination of long term debt and equity capital raised in several tranches.

IIFCL Tax FreeBond 2014 Details

Issuer
India Infrastructure Finance Company Limited
Issue Opening DateFebruary 17, 2014
Issue Closing Date14th March, 2014
Face Value ( Rs. )Rs. 1,000
Issue Price ( Rs. )Rs. 1,000
Nature of BondsSecured
Mode of IssuePublic issue
Minimum Application5 Bonds (Rs. 5000)
Credit RatingsICRA] AAA CARE AAA by CARE & IND AAA (Stable) by IRRPL
Put/Call OptionThere is no put/call option for the Bonds
ListingBSE Limited.
Bond TrusteeIL&FS Trust Company Limited
IssuanceIn dematerialised form and physical form, at the option of the Applicant**

IIFCL Tax FreeBond 2014 Series Details

Series
Tranche III Series 1A
Tranche III Series 2A
Tranche III Series 3A
Coupon Rate (%) p.a8.16%8.55%8.55%
Annualised Yield (%) p.a8.16%8.55%8.55%
OptionsTranche III Series 1BTranche III Series 2BTranche III Series 3B
Coupon Rate (%) p.a8.41%8.80%8.80%
Annualised Yield (%) p.a8.41%8.80%8.80%
Tenor10 Years15 Years20 Years

Who can apply / invest?

1] Individual, 2] HUF, 3] Charitable Institute, 4] Company, 5] Firms, 6] Co-operative, 7] NRI, 8] Financial Institute

Benefits to the Investor

The income by way of interest on these Bonds is fully exempt from Income Tax and shall not form part of Total Income as per provisions under section 10 (15) (iv) (h) of I.T. Act, 1961.
There will be no deduction of tax at source from the interest, which accrues to the bondholders in these bonds irrespective of the amount of the interest or the status of the investors.
Wealth Tax is not levied on investment in Bond under section 2(ea) of the Wealth-tax Act, 1957

Application Process and Form Submission/Collection Centers

Please take print of the Application Form A4 paper size. Click here to download Application form of IIFCL Tax free Bond 2014
Attach following document along with the application form : –
1] PAN Card and Address Proof Photo Copy attested by applicant.
2] One Cancelled Cheque copy.
3] Bidding is mandatory.
4] Cheque / DD should be drawn in favour of “IIFCL Tax Free Bonds Escrow Account – Public Issue”.
5] On First come First Serve Basis
6] Keep photocopy of application form for your record.
7] Submit / deposit your NCD application form in Listed/ Design Bank Branches. (search below for your city)
8] To record and track the status/allotment of your application form, send us the soft copy Application Form/ Acknowledgement Slip.
9] The actual bond will reflect in your demat account within 8-12 weeks time form date of allotment.
10] Free Home Service available *

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