NHAI Tax Free Bonds Offer upto 8.3%: For NRIs too

Written by The RupeeManager Team

Monday, 26 December 2011 20:42

NHAI, an autonomous body of Govt. of India under the Ministry of Road, Transport & Highways is offering a Secured, redeemable, non-convertible debentures with tax benefits under The Income Tax Act, 1961. The issue opens on December 28, 2011 and closes on January 11, 2012.

The bonds are rated “AAA” by CRISIL, CARE & FITCH. The Interest Income on the Bonds is tax-free in nature. The bond offers various modes of Interest payment and also offers the options of issuing either in Demat or physical form. NRIs can apply on repatriable and non repatriable basis. The bonds will be listed on NSE & BSE

More details:

Particulars	Series 1	Series 2
Tenure	10 years	15 years
Issue Opens	28th December 2011
Issue Closes	11th January 2012
Issue Size	Issue aggregating to Rs 50000 lakhs
Rate of Interest	8.20% p.a.	8.30% p.a.
Interest payment	Annual
Rating	CRISIL "AAA", CARE "AAA" (IND) & FITCH "AAA" (IND)
Face Value	Rs. 1000
Who can apply	Resident Individuals/HUF/QIBs/Corporates/NRIs(both NRE & NRO)
Redemption	10 years from the deemed date of allotment	15 years from the deemed date of allotment
Listing	BSE & NSE
Minimum Subscription	Rs. 50,000
Registrars	MCS Limited
Maturity Amount	Repayment of the Face Value plus any interest that may have accrued at the Redemption

Basis of Allotment:

Category	Portion	Allotment Basis	Size (%)
QIBs and Corporates	Institutional	First Come, First Serve basis	40% of overall issue size
Resident Individuals, HUFs, NRIs (Investment > 5 lakhs)	HNIs	First Come, First Serve basis	30% of overall issue size
Resident Individuals, HUFs, NRIs (Investment > 5 lakhs)	Retail	Proportionate basis	30% of overall issue size

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