Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
Popular Search: due date for vat payment :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: VAT Audit :: ACCOUNTING STANDARD :: form 3cd :: Central Excise rule to resale the machines to a new company :: VAT RATES :: empanelment :: ACCOUNTING STANDARDS :: TDS :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
Indirect Tax »
 Applicability of TDS provisions of section 194-I of the Income-tax Act, 1961 on lump sum lease premium paid for acquisition of long term lease-regarding
 CBDT seeks monthly data of disposed I-T appeals
 Further indirect tax may be levied in 2017
 India has to make its own tax law
 Centre warns against criticism of GST network
 Indirect tax collection jumps 26% in April-September, direct tax 9%
 Indirect Tax collections up
 Thank you note from income tax department
 Tax dept scanning IDS disclosures filed through post
 Poor management cause of financial pressure on Centre
 GST to have short-lived impact on inflation: RBI

India tax-free bond sales struggles start
November, 20th 2012

Three public sector undertakings (PSUs) - India Infrastructure Finance Co (IIFCL), Rural Electrification Corp (REC) and Power Finance Corp(PFC) - raised Rs 10.85 bn ($197 mn) from their respective tax-free bond sales yesterday.

This fell short of the intended total of Rs 15 bn.

With nine companies allowed to issue a total of Rs 535bn of tax-free bonds this fiscal year, bankers feel there is unlikely to be enough demand for the entire potential offerings if the investor base is not widened to include more corporates.

PFC, which missed its target of raising Rs 5bn by just garnering Rs 2.85bn from its first such sale for this financial year, points to a likely possibility of these tax-free sales turning damp squibs sooner than expected.

IIFCL, which already raised Rs 5 bn from a tax free sale last week, managed to get Rs 3 bn from the latest offering, while REC got its Rs 5bn.

State-run Oil India was again the biggest investor in REC's sale with its Rs 2 bn investment, while Allahabad Bank put in a similar amount in PFC's bond offering.

The trio were raising up to Rs 5bn each - the maximum allowed per issue for such sales under the private placement route. The 10-year and 15-year bonds offered by these companies will pay coupons of 7.21% and 7.38%, respectively.

IIFCL is also offering a 20-year tranche at 7.41%. Banks were asked to bid at a premium over the par value of the bonds. IIFCL's bonds last week were bid at 100.01.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Portfolio

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions