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- Rural Electrification Corporation (REC) has come out with the first tax free bond issue in the current financial year FY 2013-14. REC can raise 70 per cent of the total amount through public issue, total amount allowed by the government is Rs. 5,000 crore.
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What is tax free bonds from Rural Electrification Corporation (REC)?
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Shelf Prospectus for Public Issue of REC Tax Free Bonds - 2013-14 . RURAL ELECTRIFICATION CORPORATION LIMITED (A Government of India Enterprise Regd Office. Core4 ...
- PUBLIC ISSUE OF REC TAX FREE BONDS, TRANCHE-2, FY 2012-13
Bond) Date Repayment of the face value and any interest that...
- PUBLIC ISSUE OF REC TAX FREE BONDS, TRANCHE-2, FY 2012-13
2 days ago · भुगतान नहीं किए गए लाभांश और दावा न किए गए मैच्योर डिबेंचर और उस ...
Aug 30, 2013 · REC Tax Free Bond 2013-14 | Sanriya. Company Profile. * Notified as a Public Financial Institution under Section 4A of the Companies Act, 1956. * Engaged in the financing and promotion of transmission, distribution and generation including renewable energy projects throughout India.
- 098224 03407
- 30-Aug-13
- 23-Sep-13
- Rs. 3500 Crores*
Bond) Date Repayment of the face value and any interest that may have accrued on the Redemption Date Frequency of interest payment Annual Annual Minimum application size 5 Bonds (Rs. 5,000) across all series of bonds In multiples of 1 Bond (Rs 1,000) 1 Bond (Rs 1,000) Face value (Rs./ Bond) Rs. 1,000 Rs. 1,000 Issue price (Rs./ Bond) Rs. 1,000 ...
- So What Are The Salient Features of The Rec Bonds?
- Who Can Invest?
- Four Categories of Investors Can Invest in The Issue
- What Will Be The Interest Payment and Record Date?
- What Is The Safety Rating and The Nature of The Bond?
- How Long Will It Take to Get These Bonds Listed on The Stock Exchange?
- What Are The TDS Applicability and The Minimum Investment?
- What Is The Interest on Application Money and Refund?
- What Kind of Taxes Will The Sale of These Bonds Attract?
- What Makes The Bond Offer More Attractive Than Last Year?
Well, REC plans to raise Rs. 3500 crores from the market which is inclusive of the green-shoe option of Rs.2,500 crore. What’s more, the issue is expected to be oversubscribed and hence will perhaps be closed before its schedule closing date of 23rd September 2013. As per the terms of the CBDT notification , REC can raise 70% of the total amount th...
Non-resident Indians (NRIs), Qualified Foreign Investors (QFIs), Retail Individual Investors, Hindu Undivided Families (HUFs) through their Kartas can all invest in these bonds.
Qualified Institutional Bidders (QIBs) – 20% of the issue reservedNon-institutional Investors (NIIs) – 20% of the issue reservedHigh Net Worth Individuals including HUFs, NRIs & QFIs – 20% of the issue reservedRetail Individual Investors including HUFs, NRIs & QFIs – 40% of the issue reservedInvestors are keen to know this beforehand so that they can plan accordingly. For this issue the interest payment date will be December 1 and the record date will precede this by 15 days.
CRISIL, CARE, India Ratings and ICRA rate the bond highly at ‘AAA’. REC, being a ‘Navaratna’ PSU offers a secure and safe investmentoption through these bonds. The bonds are also further secured by...
Within 12 working days from the date of the close of the issue, the bond will be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). Investors have the option of holdin...
Being Tax Free bonds these instruments do not attract any TDS provisions. Minimum investment to be made is for Rs. 5000 or 5 bonds of face value Rs. 1000 each.
REC will pay successful applicants at the coupon rates as applicable and at 5% per annum to the unsuccessful applicants.
Bonds listed on the stock exchange if held for more than 12 months before sale will attract a flat rate of 10% long-term capital gaintax. If held for less than 12 months it will be treated as short...
Last year there was a huge disparity in the interest rate paid to retail-investors vi’s-à-vi’s other investors. Moreover, subsequent buyers of the bond from the secondary market were offered a lowe...
Feb 20, 2013 · Open and Close Date of REC Tax Free Bonds. The issue opens on February 25th 2013, and closes on March 15th 2013. Listing of the Bonds. The bonds will list on both the NSE and the BSE, and will start trading shortly after their issue. Dematerialization and Physical Form
Aug 28, 2013 · Rural Electrification Corporation (REC) will be launching the first public issue of tax-free bonds for the current financial year from 30th of this month. The company is offering quite attractive interest rates to the retail individual investors with 8.26% for 10 years, 8.71% for 15 years and 8.62% for 20 years.
