Connect with Us
Moneylife - Facebook Moneylife - Twitter Moneylife - Linkedin Moneylife - Youtube Moneylife Rss feed
close

Moneylife » Economy & Nation » Taxation » L&T Infrastructure to issue tax-saving infra bonds

L&T Infrastructure to issue tax-saving infra bonds

Moneylife Digital Team | 25/11/2011 02:29 PM | 

L&T Infrastructure bond issue will close on December 24, 2011

L&T Infrastructure Finance Company Ltd to issue Tranche 1 Bonds starting , on November 25, 2011, through a public issue of long term infrastructure bonds with a face value of Rs1,000 each in the nature of secured, redeemable, non-convertible debentures having benefits under Section 80CCF of the Income Tax Act, 1961, aggregating up to Rs1,100 crore for FY2012. The minimum subscription will be five bonds and in multiples of one bond thereafter.

The bond issue will close on December 24, 2011, or earlier, as may be decided by the company. The first tranche of bonds will carry an interest rate of 9% per annum payable annually or compounded annually. The Tranche 1 Bonds are proposed to be listed on BSE.  

The bonds have been rated ‘CARE AA+’ by CARE and ‘[ICRA] AA+’ by ICRA considered to offer high safety for timely servicing of financial obligations.

The bonds will carry a minimum lock-in period of five years from the date of allotment and can be redeemed after ten (10) years from the date of allotment.


Post Comment

More in Moneylife

Punjab National Bank, Raghuram Rajan, Arun Jaitley, Narendra Modi

Eight PSBs to remain headless till January? +2079 views

TODAY'S TOP STORIES

Post your Comment


Alert me when new comment is posted on this article
 Please read our Moderation Policy and Terms of Use before posting


VIDEOS

How Moneylife Foundation’s Free Credit Helpline is important to you

LATEST COMMENT

How to file complaint .??hw to get back my money please suggest ,bcoZ of adooye I am in worst situation Mahendra Gowda

MORE

No PDS for taxpayers, class I & II govt officers? Moneylife Digital Team

HC asks CBDT to extend deadline for filing I-T returns to 30th November Moneylife Digital Team

Comment

1 Comment
Shankar Ware

Shankar Ware 3 years ago

I would like detail information about infrastructure bonds.

Reply »Link » Report abuse
X
Daily Newsletter

1,00,000 Readers

Follow Moneylife
DNL facebook icon DNL linked in icon DNL twitter icon DNL youtube icon DNL rss icon
Moneylife Magazine

What's your say?

Will the cut in diesel price help cool off inflation & lower the govt's subsidy bill?
Yes
No
Can't Say
 
Enter Code : secure code
    change code
VOTE

What you said

Which party would get majority in Maharashtra Assembly Election?

Thanks for casting your votes! View Previous Polls

Join Over 100,000 Awesome Readers

  1. News that Mainstream media does not always cover
  2. Views that are bold and unbiased
  3. Reports that focus on your interests as consumer, investor & citizen