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 INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: TDS :: list of goods taxed at 4% :: articles on VAT and GST in India :: form 3cd :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: cpt :: ACCOUNTING STANDARDS :: VAT RATES :: empanelment
 
 
« Indirect Tax »
 Grey areas remain for foreign investors on tax issues
 GST: New indirect tax regime to remove inter-state barriers, stimulate exports, says Nirmala Sitharaman
 Cabinet Approves 4 GST Supplementary Bills
 GST Council approves all five draft bills ahead of new indirect tax regime
 CAG questions income tax deparment’s ability to probe shell companies
 Income from MF investments must be shown in income tax returns
 Indirect tax higher than direct tax revenues in April-Feb
 Many foreign investors reach out to tax experts about indirect transfer of shares provisions
 How changes in capital gains norms impact your portfolio
 It's time to really pull up India's out-of-control banks
 Quest to widen direct tax net

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 2017 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