NHAI bond issue to raise up to Rs 3,698 cr opens tomorrow

Tags: News
National Highways Authority of India (NHAI) has announced that its tax-free bonds issue to raise up to Rs 3,698.40 crore will open tomorrow.

NHAI announced the public issue of tax-free, secured redeemable, non convertible bonds in the nature of debentures of the face value of Rs 1,000 each for an amount of Rs 1,000 crore.

These bonds have an option to retain over-subscription up to Rs 2,698.40 crore aggregating to a total of Rs 3,698.40 crore, NHAI said in a statement today.

The issue opens on January 15, 2014 and closes on February 5, 2014 with an option of early closure.

These bonds, which would be offered with two different series -- with tenor of 10 years and 15 years -- are proposed to be listed on both the BSE and the NSE, the statement said.

The coupon rate for individual and HUF (Hindu Undivided Family) investors applying for an amount up to Rs 10 lakh shall be 8.52 per cent and 8.75 per cent for the bonds with tenor of 10 years and 15 years, respectively.

The income earned by way of interest on these Bonds is fully exempt from Income Tax and shall not form part of Total Income, it added.

The minimum application size is 5 bonds (Rs 5,000) individually or collectively across both series of bonds and in multiples of 1 Bond (Rs 1,000) thereafter.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • E-auction and eventual privatisation of coal industry are welcome steps

    The government’s decision to privatise the scam-ridden coal industry through a presidential ordinance will eventually end the monopoly of public sec

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Tushar Gandhi

Sustainable model for rural sanitation

Prime minister Narendra Modi has promised to build a toilet ...

Rajgopal Nidamboor

Synchronous balance is vital for one and all

Imagine that you are playing an electronic game, or actually ...

Shona Adhikari

When women to birds become a painter’s muses

This week the focus is on renowned artist Amitabha Banerjee, ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture