Below are the key details of IDFC Infrastructure Bonds IPO released November 2011.
- Opening date of the issue: November 21, 2011 and Closing date of the Issue: December 16, 2011, with discretion to close early or extend the closing date, subject to necessary approvals.
- Issue size not exceeding Rs. 50,000.0 Million for the financial year 2011 – 2012.
- Nature of Instrument – Secured, Redeemable, Non-Convertible Debentures having benifits under section 80CCF of the Income Tax Act, 1961.
- The Bonds will be issued in Demat mode only
- The issue has been rated ‘(ICRA)AAA’ from ICRA and ‘Fitch AAA(ind)’ from Fitch.
- Only one application per Trading account
- NRI customers are not eligible to apply for the issue.
- Proposed to be listed on NSE & BSE.
- Eligible Investors: All Resident Individuals and HUF’s
- Full Allotment of Tranche 1 Bonds to the Applicants on a first come first basis up to the Issue Closing Date for the Prospectus – Tranche 1 or the date falling one day prior to the Oversubscription Date,whichever is earlier.
- For Applications received on the Oversubscription Date, the Tranche 1 Bonds shall be Allotted in the following order of priority :
- Allotment to the Applicants for Series 1 Tranche 1 Bonds
- Allotment to the Applicants for Series 2 Tranche 1 Bonds
-
The specific terms are as below for the IPO:
|
Options |
I |
II |
|
Frequency of Interest Payment |
Annual |
Cumulative |
|
Tenor |
120 months from the Deemed Date of Allotment |
|
|
Face Value |
Rs 5000/- |
Rs 5000/- |
|
Minimum Application / Application in multiples of |
Two Tranche 1 Bonds and in multiples of one Tranche 1 Bond thereafter. |
|
|
Interest Rate (% p.a.) |
9.00 % p.a. |
NA |
|
Maturity Date |
10 years from the Deemed Date of Allotment |
|
|
Buyback Option |
Yes |
|
|
Buyback Dates |
Date falling 5 years and one day from the Deemed Date of Allotment |
|
|
Buyback Amount |
Rs. 5,000 per Tranche 1 Bond |
Rs. 7,695 per Tranche 1 Bond. |
|
Buyback Intimation Period |
The period beginning not before nine months prior to the Buyback Date and ending not later than six months prior to the Buyback Date |
|
|
Maturity amount |
Rs. 5,000 per Tranche 1 Bond |
Rs. 11,840 per Tranche 1 Bond |
|
Lock-in-period |
5 years from the Deemed Date of Allotment |
|
|
Tax Rate (%) |
Tax Benefit adjusted rate of return on Maturity (with Tax Benefits upto Rs. 20,000 u/s 80CCF of the Income Tax Act, 1961) |
|
|
10.30 |
10.72 |
10.19 |
|
20.60 |
12.75 |
11.54 |
|
30.90 |
15.19 |
13.10 |
|
Tax Rate (%) |
Tax Benefit adjusted rate of return on Buyback (with Tax Benefits upto Rs. 20,000 u/s 80CCF of the Income Tax Act, 1961) |
|
|
10.30 |
11.83 |
11.39 |
|
20.60 |
15.15 |
14.14 |
|
30.90 |
19.11 |
17.35 |
