Infrastructure Bonds available in March 2012 – IFCI, L&T, PFS & IDFC Infrastructure Bond

 

If you have still not invested in infrastructure bonds and still looking for investing for saving income tax , you have  four options:

  1. IFCI Infrastructure Bond – Series V
  2. L&T Infrastructure Bond
  3. PFS Infrastructure Bond
  4. IDFC Infrastructure Bond – Tranche III

Just in case you missed it, an investment in infrastructure bonds under Section 80CCF is an additional window to save tax upto Rs 20,000, over and above the Rs One lakh limit already available.

The table below summarizes the options available.

Infrastructure BondsMinimum AmountInterest RateMaturity DateMaturity Amount*   Close Date      
IFCI Infrastructure Bond – Series V5,0008.72%15 Years70,09327-March-12
8.50%12 Years53,234
L&T Infrastructure Bond5,0008.70%10 Years46,06012-March-12
PFS Infrastructure Bond5,0008.93%15 Years74,36823-March-12
9.15%10 Years46,684
IDFC Infrastructure Bond10,0008.43%10 Years44,92830-March-12

* Maturity Amount is assuming investment of Rs 20,000 in cumulative scheme till Maturity period of the scheme.

IFCI Infrastructure Bond – Series V Details:

Options for SubscriptionIIIIIIIV
Frequency of Interest PaymentCumulativeAnnualCumulativeAnnual
Coupon (% p.a.)8.50%8.50%8.72%8.72%
Tenor12 years12 years15 years15 years
Maturity Date31-Mar-2431-Mar-2431-Mar-2731-Mar-27

 

Credit Rating:

  • ‘BWR AA-‘ by Brickwork Ratings India Pvt. Limited
  • CARE’A+’ by CARE Ratings (Credit Analysis & Research Ltd.)
  • ‘(ICRA)A’ by ICRA Limited

Other Details:

  • Face value: Rs. 5,000 per bond
  • Minimum Application Rs. 5,000/- (i.e. 1 Bond)
  • Application in multiples of Rs. 5,000/- (i.e. 1 Bond)
  • Lock-in period 5 years from the Deemed Date of Allotment
  • Deemed Date of Allotment: March 31, 2012
  • Proposed to be listed on Bombay Stock Exchange (BSE)
Download Application form here.

L&T Infrastructure Bond Details: 

Options for SubscriptionIII
Frequency of Interest PaymentAnnualCumulative
Coupon (% p.a.)8.70%8.70%
Tenor10 years10 years
Maturity Date31-Mar-2431-Mar-24
Buyback Amount (Rs. / Bond)Rs. 1,000 at the end of 5 years / Rs. 1,000 at the end of 7 yearsRs. 1,517.57 at the end of 5 years / Rs. 1,793.11 at the end of 7 years

 

Credit Rating:

  • CARE’AA+’ by CARE Ratings (Credit Analysis & Research Ltd.)
  • ‘(ICRA)AA+’ by ICRA Limited

Other Details:

  • Face value: Rs. 1,000 per bond
  • Minimum Application Rs. 5,000/- (i.e. 5 Bond)
  • Lock-in period 5 years from the Deemed Date of Allotment

Download Application form here.

You might want to look here for calculating effective yield and knowing more details of these bonds.

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