Power Finance Corporation new issue closes on 22nd March
Power Finance Corporation has launched infrastructure bond, offering a fixed rate of interest of up to 8.5% payable annually or on a cumulative basis.
The rate of interest for 10-year tenure, annual and cumulative, is 8.3% while for 15 year tenure, it will be 8.5% with a lock in period of five years. This means investors have the choice to buy back, they can offer it back to the company after five years.
The bonds offered will be in maturities of 10 years and 15 years with a buyback option after five years and seven years, respectively. The bond issue opens for public subscription on 24th February and closes on 22nd March.
The bond will be of a face value of Rs5,000 and would be listed on the Bombay Stock Exchange. Investors can avail tax benefit of Rs20,000 for the current financial year 2010-11 under Section 80CCF of the Income Tax Act, 1961.
HDFC Mutual Fund new issue closes on 28th February
HDFC Mutual Fund has launched HDFC FMP 100D February 2011 (1), a close-ended income scheme.
The investment objective of the plans under the scheme is to generate income through investments in debt/money market instruments and government securities maturing on or before the maturity date of the respective plan(s).
The new issue opens on 24th February and closes on 28th February. The minimum investment amount is Rs5,000. The scheme will be managed by Bharat Pareek.
Fidelity Mutual Fund new issue closes on 24th February
Fidelity Mutual Fund has launched Fidelity Fixed Maturity Plan Series V-Plan A, a close-ended income scheme.
The investment objective of the scheme is to generate reasonable returns and reduce interest rate volatility primarily through investment in money market and short to mid term debt instruments having maturity, on or before the date of maturity of a plan.
The new issue opens on 24th February and closes on the same day. The minimum investment amount is Rs5,000.
CRISIL Short Term Bond Fund Index is the benchmark index. The scheme will be managed by Shriram Ramanathan and Mahesh Chhabria.