Jan 12
16
Indian Railway Finance Corporation Limited Bonds (IRFCL Bonds)
(Indian Tax Free, Secured, Redeemable and Non-Convertible Bonds)
Issue Opening Date: 27th January 2012
Issue Closing Date: 10th February 2012
Credit Rating: “CRISIL AAA/Stable” by CRISIL, “CARE AAA” by CARE & “[ICRA] AAA” by ICRA.
Allotment Basis: First-come-First-serve basis.
Need Application??
DOWNLOAD >> Indian Railways Finance Corporation (IRFC) Bonds Application Form | >> CLICK HERE << |
Submission Centers: Submit your IRFC Bond Application to any – ICICI, HDFC, AXIS, IDBI, KOTAK, SBI bank – Any Branch.!!
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TAX Highlights & Features:
- 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 IT Act.
- There will be no deduction of tax at source from the interest, which accrues to the bondholders on these bonds irrespective of the amount of the interest or the status of the investors.
- Wealth Tax is not levied on investment in Bonds under section 2(ea) of the Wealth-tax Act, 1957.
REQUIRED DOCUMENTS:
| For Indian Citizens:A. To apply in Demat form:
1. Cheque OR Demand Draft. 2. PAN Card copy (self attested) 3. Cancelled Cheque B. To apply in Physical form: - Cheque or Demand Draft (DD)
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For NRIs (Non-resident Indians):A. To apply in Demat form:
1. Cheque from NRE/NRO account 2. PAN Card Copy – self attested 3. Cancelled Cheque B. To apply in Physical form: - NRE or NRO Cheque or DD. |
*The coupon rates of 8.15% p.a. and 8.30% p.a. shall be payable only to the original allottees under Category III for the Tranche 1 and Series I Bonds and Tranche 1 and Series II Bonds respectively and shall not be payable to the transferees in case the Bonds are transferred or sold by the original allottee. In such cases, the transferees shall be entitled to receive coupon rates of 8.00% p.a. and 8.10% p.a. for the Tranche 1 and Series I Bonds and Tranche 1 and Series II Bonds respectively. However, in case of any transfer by a permanently disabled allottee to their legal heir(s), the transferee shall continue to be entitled to receive interest at the coupon rate of 8.15% p.a. and 8.30% p.a., for the Tranche 1 and Series I Bonds and Tranche 1 and Series II Bonds respectively. Where the Bonds are held in joint names and subsequently there is a change in the sequence of the names of the joint holders, the joint holders subsequent to such change in sequence of names, will be entitled to receive the interest at the coupon rate of 8.00% p.a. and 8.10% p.a., for the Tranche 1 and Series I Bonds and Tranche 1 and Series II Bonds respectively. However, in case of change in name of any of the joint holders, such joint holders shall continue to be entitled to receive interest at the coupon rate of 8.15% p.a. and 8.30% p.a., for the Tranche 1 and Series I Bonds and Tranche 1 and Series II Bonds respectively. In case of transmission of the Bond(s) in accordance with the Articles of Association of the Company, to the nominee in the event of demise of the Bondholder (single or joint holders) who was originally allotted Bonds under Category III, the new Bondholder (single or joint holders) shall continue to be entitled to receive interest at the coupon rate of 8.15% p.a. and 8.30% p.a., for the Tranche 1 and Series I Bonds and Tranche 1 and Series II Bonds respectively. For the purpose of classifying the investors into various categories, the applications will be consolidated on the basis of PAN. Consequent to such consolidation of applications, if an Applicant falls in any category other than Category III, such Applicant will not be entitled to receive the coupon rate of 8.15% p.a. and 8.30% p.a. for Tranche 1 Series I Bonds and Tranche 1 Series II Bonds respectively
^ The Company shall allocate and allot Bond Series bearing longest maturity to all valid applications, wherein the Applicants have not indicated their choice of the relevant Bond Series in their Application Form.
| Category I | Category II (above Rs. 5 lac) | Category III (below & including Rs. 5 lac) |
| Public Financial Institutions as defined in section 4A of the Companies Act, 1956 | Resident Indian individuals | Resident Indian individuals |
| Commercial Banks, Co-operative Banks and Regional Rural Banks, which are authorised to invest in the Bonds | Hindu Undivided Families through the KartaNon Resident Indians on repatriation as well as non-repatriation basis | Hindu Undivided Families through the KartaNon Resident Indians on repatriation as well as non-repatriation basis |
| Provident Funds, Pension Funds, Superannuation Funds and Gratuity Funds which are authorised to invest in the Bonds Statutory CorporationsInsurance companies registered with the IRDANational Investment FundMutual FundsForeign Institutional Investors (including sub-accounts)Insurance funds set up and managed by army, navy or air force of the Union of IndiaMultilateral and Bilateral Development Financial InstitutionsState Industrial Development CorporationsCompanies, bodies corporate and societies registered under the applicable laws in India and authorised to invest in the Bonds Registered Trusts which are authorised to invest in the Bonds Scientific and/or industrial research organisations which are authorised to invest in the Bonds Partnership firms in the name of the partners Limited liability partnerships formed and registered under the provisions of the Limited Liability Partnership Act, 2008 (No. 6 of 2009 |
DOWNLOAD Indian Railways Bond Application >> CLICK HERE <<
Got questions, email us: info@nriinvestindia.com
Source: Shelf Prospectus dated January 19, 2012 and Prospectus Tranche – 1 dated January 19, 2012
Disclaimer: “Invest only after referring to final prospectus”.
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