IDFC infrastructure bonds

IDFC is coming up with Public issue of long term infrastructure bonds, in the nature of secured, redeemable, non-convertible debentures, for an amount not exceeding Rs.4400 Crores with an option to retain an oversubscription up to the Shelf Limit (5000 Crores).

Below are the details of the Issue:

IDFC BOND
ISSUE OPENS	11-Jan-12
ISSUE CLOSES	25-Feb-12
PRICE BAND	Rs. 5000/-
MINIMUM APPLICATION	2 Units [Rs. 10, 000] and in multiples of 1 Bond (Rs. 5000) each thereafter.
Maturity	10 years from the Deemed Date of Allotment.
INTEREST RATE	Option 1 -8.70% payable annually. Option 2 -Rs 11,515 payable on maturity (8.70% compounded annually)
RATING	“(ICRA)AAA” from ICRA and “Fitch AAA (ind)” from Fitch
Tax Benefits	These Bonds are classified as Long Term Infrastructure Bonds and eligible for tax benefits under Section 80CCF of the Income Tax Act up to an amount not exceeding Rs. 20,000 in the year of investment.