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: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: cpt :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: VAT RATES :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: form 3cd :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT
 
 
« Indirect Tax »
 Clarification Regarding Filing of Offline Challans with IEPF Authority under Companies Act
 Cash deposits in Jan Dhan accounts drop after govt warning: income tax dept
 Indirect tax receipts to see small, brief hit’
 There is no tax on interest income of up to Rs3 lakh a year for senior citizens
 Chidambaram favours change in direct tax rates
  Further rationalization of revised simplified procedure for fixation of brand rates
 Kerala to accept demonetised banknotes for payment of state tax till Nov 24
 Centre-state gridlock over GST jurisdiction remains, could threaten tax rollout
 India to levy tax on investments from Cyprus from April 2017
 Why tax radar may detect your cash deposits after Nov 8
 Income tax notices to religious, charitable trusts

Tax-free bonds of three state companies get a poor response
March, 03rd 2014

Tax-free bonds of three state-owned companies have received a tepid response , with the issues seeing subscriptions for only a fraction of their target amounts on their opening day on Friday. This last tranche of tax-free bonds comes at a time when the market is already crowded with issues, leading to over-supply ahead of the fiscal year-end .

The Indian Railway Finance Corporation (IRFC) could raise Rs 239 crore or 8.16% of its total issue size of Rs 2,916 crore, including a core issue size of Rs 1,500 crore, according to data available on the BSE website. Similarly, Rural Electrification Corporation (REC) saw subscriptions for Rs 154 crore or 14.5% of the total issue size of Rs 1,060 crore (core issue size of Rs 250 crore).

For Housing and Urban Development Corporation (Hudco), the issue size is relatively smaller at Rs 286 core with a core issue size of Rs 75 crore. The AA+ rated issue could collect Rs 63 crore or 22% of the total size on the first day. The interest rates on these bonds vary from 8.19%-8.

88% in three maturity buckets of 10, 15 and 20 years for both retail and institutional customers. IRFC, however, has not offered a 20-year maturity. ET had reported earlier that four state-owned companies were going to raise a total of Rs 5,250 crore through tax-free bonds. National Housing Bank is the fourth entity whose Rs 1,000-crore public issue is expected to open next week. Indian Renewable Energy Development Agency (Ireda), Ennore Ports and India Infrastructure Finance Company (IIFCL), whose offerings opened for subscription almost two weeks ago, are collectively likely to mop up about Rs 4,300 crore.

Ireda and IIFCL, both 'AAA' rated, have so far raised Rs 723 crore (target Rs 1,000 crore) and Rs 829 crore (target Rs 2,823 crore), respectively. "The interest rate is at its peak in the 15-year bucket so far. One can have the safety of investment in these instruments ," an investment banker, who did not wish to be named, said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
E-catalogue online catalogue E-brochure online brochure online product catalogue online product catalogue e-catalogue Indi

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