• This bonds will be called “Long Term Infrastructure Bond”
• New section can be availed by individual or HUF only.
• An Individual or HUF can invest Rs. 20000/- in a Financial year to avail deduction under section 80CCF
• Rs. 20000/- limit is in addition to 100000/- limit of section 80C, 80CCC, 80CCD
• Tenure of the Bonds will be 10 Years.
• However Lock in period is 5 years ,after 5 years investor can withdraw money from the bonds
• After lock in period, Investor can take loan against these Bonds
Summary Term Sheet :
Issuer : IFCI Limited (“the Issuer”)
Offering : 1,00,000 Unsecured, Redeemable, Non-Convertible, Taxable Bonds of Rs. 5,000/- each aggregating to Rs. 50 Crore with a green-shoe option to retain over-subscription for issuance of additional Infrastructure Bonds
Type : Private Placement basis
Instrument : Unsecured, Redeemable, Non-Convertible, Taxable Bonds having benefits under section 80 CCF of the Income Tax, 1961 for long term Infrastructure Bonds
Rating : BWR AA- by BRICKWORK RATINGS INDIA PVT LIMITED
Eligible Investors : Resident Indian Individual (Major) and HUF through Karta of the HUF
Security : Unsecured
Face Value : Rs. 5,000/- per bond
Issue Price : At par (Rs. 5,000/- per bond)
Minimum Subscription : 1 Bond and in multiples of 1 Bond thereafter
Tenure : 10 years, with or without buyback option after five years
Listing : Proposed to be listed on BSE
Trustee : Axis Trustee Services Limited
Depository : National Securities Depository Ltd. and Central Depository Services (India) Ltd.
Registrars : Beetal Financial & Computer Services (P) Ltd.
Mode of Payment : Interest payment will be made through ECS/At Par Cheques/Demand Drafts
Issuance : Demat form only
Trading : Demat mode only
Issue Open Date : August 9, 2010
Issue Close Date : August 31, 2010 ( The issuer would have an option to pre-close the issue by giving 1 day notice to the Arrangers)
Deemed Date of Allotment : September 15, 2010
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