Infrastructure Development Finance Company Limited (IDFC), has come out with its second tranche of tax-saving long-term infrastructure bonds.
Addressing presspersons here on Thursday, Vikram Limaye, Executive Director, said the bonds, having tax benefits under Sec. 80 CCF of the Income-tax Act, were issued in two series, both with buyback option but with different interest payment options.
These ten-year bonds with a face value of Rs. 5,000 each, opened for subscription on January 17.
The issue will close on February 4. The bonds with a lock-in period of five years, carry an interest rate of 8 per cent annually.
Mr. Limaye said the company had the authority to raise up to Rs. 3,400 crore in one or more tranches during fiscal 2011.
It had already raised Rs. 471 crore in the first tranche in November 2010. If the company could not raise Rs. 2,929 crore this time, it may come out with a fresh issue before March 31, 2011, the Executive Director said.
The amount raised through this second tranche would be utilised for infrastructure lending, he said.
