Friday, November 30, 2012

REC Tax free Bonds 2012

Rural Electrification Corporation Limited Tax Free Bonds 2012

Issue opens on: 3 December 2012
Issue closes on: 10 December 2012


Duration
10 years
15 years
Frequency of Interest Payment
Annual
Annual
Coupon Rate
7.22%
7.38%
Coupon Rate for Retail Individual Investors (less than 10 lakhs)
7.72%
7.88%

Face value: Rs. 1000/-
Issue size: Rs. 4500 crores
Minimum application size: Rs. 5000/-
These bonds will be listed on BSE and NSE.

The income by way of interest on these Bonds is fully exempt from Income Tax as per provisions under section 10 (15) (iv) (h) of IT Act.

These bonds are rated "AAA" by CARE and CRISIL.

Take care and good luck! 

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