Saturday, 21 Jul 2018

HUDCO Tax-Free Non Convertible Bonds

201318Sep

This is to inform you that Housing and Urban Development Corporation Limited (HUDCO) is launching their 1st Tranche of TAX FREE Bonds Issue w.e.f. 17th September 2013.

Special Feature:NRI can invest in HUDCO Tax Free Bonds Issue (Repatriation as well as Non-repatriation basis)

 

The allotment will be made on a "First come first served basis".

 

Bidding is compulsory in the Tax Free Bond Issues, hence follow the Bidding Instructions before submitting the Application Forms in Bank.


Term Sheet

Issuer

Housing and Urban Development Corporation Limited

Nature of Instrument

Tax Free Secured Redeemable Non-Convertible Bonds

Issue Size

Rs.750 Crores with an option to retain oversubscription of up to Rs.4809.20 Crore

Issue Opening Date

Tuesday, 17th September 2013

Issue Closing Date

Monday, 14th October 2013

Instrument Form

In dematerialized as well as in physical form

Credit Rating

“AA+” from CARE & IRRPL ( formerly known as Fitch Rating India Pvt Ltd )

Face Value

Rs. 1,000/- per Bond

Issue Price

At par i.e. Rs. 1,000/- per Bond

Minimum Application

5 Bonds (Rs. 5,000/-) and in multiples of 1 Bond (Rs. 1,000/-) thereafter

Listing

Proposed on"BSE"

Trustee

SBICAP Trustee Company Limited.

Registrar

Karvy Computershare Private Ltd

NRI Can Apply?

Yes, NRI can apply in Repatriation as well as Non-repatriation basis.

Cheque in favor of

For Residents:  “HUDCO Tax Free Bonds 2013-14 – Escrow Account -R”

For NRI Investors-On Repatriation Basis:

“HUDCO Tax Free Bonds 2013-14 – Escrow Account – NR Repat”

For NRI Investors-On Repatriation Basis:

“HUDCO Tax Free Bonds 2013-14 – Escrow Account – NR Non-Repat”

 

Options

Tranche 1 Series 1

Tranche 1 Series 2

Tranche 1 Series 3

Interest Payment

Annual

Annual

Annual

Tenure

10 yrs.

15 yrs.

20 yrs.

Interest Rate for Category II(Corporates) & III(Above 10 lacs) Applicants (% p.a.)

8.14%

8.51%

8.49%

Interest Rate for Category IV(Retail-up to 10 lacs) Applicants (% p.a.)

8.39%

8.76%

8.74%

Interest payment Date

The date, being the day falling one year from the Deemed Date of Allotment

  Who can Apply:

 

Category-II

Category-III

Category-IV

 

• Companies within the meaning of section 3 of the Companies Act*;

• Statutory bodies/corporations*;

• Cooperative banks;

• Public/ private/ religious trusts;

• Limited Liability Partnerships;

• Eligible QFIs (not being individuals);

• Regional rural banks;

• Societies registered under applicable laws in India and authorised to invest in the Bonds;

• Associations of persons;

• Partnership firms in the name of partners; and

• Any other foreign/ domestic legal entities/ persons as may be permissible under the CBDT Notification and

authorized to invest in the Bonds in terms of applicable laws.

The following Investors applying for an amount aggregating to above Rs.10 lakhs across all Series of Bonds in

this Tranche Issue:

• Resident Indian individuals;

• Eligible NRIs on a repatriation or non – repatriation basis;

• Hindu Undivided Families through the Karta; and

• Eligible QFIs, being individuals.

 

The following Investors applying for an amount aggregating upto and including Rs.10 lakhs across all Series of

Bonds in this Tranche Issue:

• Resident Indian individuals;

• Eligible NRIs on a repatriation or non – repatriation basis;

• Hindu Undivided Families through the Karta; and

• Eligible QFIs, being individuals.

Reservation for Categories

20% of overall issue size

30% of overall issue size

40% of overall issue size

Basis of allocation in case of over subscription

First Come First Serve Basis

First Come First Serve Basis

First Come First Serve Basis

  Applications cannot be made by:

a)      Minors without a guardian name (A guardian may apply on behalf of a minor. However, Applications by minors must be made through Application Forms that contain the names of both the minor Applicant and the guardian);

b)      Foreign nationals, except as may be permissible under the CBDT Notification or under the applicable law;

c)      Non-resident Investors, including FIIs, NRIs and QFIs who are (i) based in the USA, and/or, (ii) domiciled in the USA, and/or, (iii) residents/citizens of the USA, and/or, (iv) subject to any taxation laws of the USA;

d)     Overseas Corporate Bodies;

e)      Indian Venture Capital Funds;

f)       Foreign Venture Capital Investors; and

g)      Persons ineligible to contract under applicable statutory/ regulatory requirements.

 

Feel free to contact us, we will be pleased to be helpful to you.

 

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