Friday, November 30, 2012

REC Tax Free Bonds-Issue Opening on 3 Dec 2012

Issue period: 3 December 2012 to 10 December 2012

Issue Highlights:

  • Issue of Tax Free Secured Redeemable Non Convertible Bonds
  • Issue Size: Rs 1,000 Crore with an option to retain oversubscription upto Rs 4,500 Crore
  • Additional Coupon Rate - Category-IV Applicants - 0.50% p.a.
  • REC is one of only 16 Indian PSUs granted "Navratna" status
  • 66.80% shareholding held by Govt. of India as on 31 Sep 2012
  • When Bonds held by the original allottees of Category IV are sold / transferred, coupon rate will be revised to the coupon rate for Category I, II & III investors. Refer to details.
  • Application cannot be made by Non-resident Indians and Foreign nationals.
Key Benefits:
  • The income from interest on these Bonds is fully exempt from Income Tax and no TDS is applicable.
  • Wealth Tax is not levied on investment in bonds under section 2(ea) of the Wealth-tax Act, 1957.
  • Credit Ratings indicating highest safety: AAA by CARE and ICRA, AAA/Stable by CRISIL.
  • The Bonds shall be listed and can be traded on BSE and NSE.
  • No upper limit on investment amount.
  • No lock in period for the Bonds.
Terms of the Issue:

ParticularsIssue Details
Face Value per BondRs 1,000
Tenor10 years15 years
Minimum ApplicationRs 5,000 (in multiples of Rs 1,000 thereafter)
Coupon Rate % p.a. (Category I, II and III)7.227.38
Additional Coupon Rate % p.a. (Category IV)0.500.50
Total Coupon Rate % p.a. (Category IV)7.727.88
Effective yield % p.a. (Category I, II and III)7.227.38
Effective yield % p.a. (Category IV)7.727.88
Frequency of Interest payment
(Paid on 1st December)
AnnualAnnual
IssuancePhysical and Demat mode
Interest on application % p.a.As per coupon rate applicable to investor category
Interest on refund % p.a.5.00
Redemption Date10 years from Deemed Date of Allotment15 years from Deemed Date of Allotment
Redemption AmountRepayment of the face value with interest

Issue Structure:

Investor CategoryI - InstitutionalII - Non InstitutionalIII - HNI (more than 10 lacs)IV - Retail (upto and including 10 lacs)
Issue allocation15%15%40%40%
*Basis of allotment: on first come first serve basis

Tuesday, November 27, 2012

NSE Holiday list for 2013


26th January Saturday Republic Day
10th March - Sunday - Maha Shivratri
27th March - Wednesday - Holi
29th March - Friday Good Friday
23th April - Tuesday - Mahavir Jayanthi
01th May - Wednesday - May Day
25th May - Saturday - Buddha Purnima
15th August - Thursday - Independence Day
28th August - Wednesday - Krishna Janmastami
09th September - Monday - Ganesh Chaturthi
02nd October - Wednesday - Mahatma Gandhi Jayanthi
14th October - Monday - Vijaya Dashami
03rd November - Sunday - Diwali
17th November - Sunday - Guru Nanak - Jayanthi
25th December - Wednesday - Christmas
Above is a expected list of Holidays for NSE in 2013, the official list from NSE is not yet out as on 27 Nov 2012.

Saturday, November 24, 2012

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