Monday, 23 Oct 2017

REC Capital Gain Tax Exemption Bonds Series IX

201403Oct

 

Rural Electrification Corporation (REC), REC Capital Gain Tax Exemption Bonds Series IX F.Y. 2014-15.

Issue Highlights of REC Capital Gain Tax Exemption Bonds Series IX F.Y. 2014-15

 

 

Nomenclature

REC Capital Gains Tax Exemption Bonds Series IX in the

nature of debentures.

Nature

Secured

Security

As mutually agreed between the Issuer and the Trustee.

Credit Rating

CRISIL AAA Stable by CRISIL/ CARE AAA by CARE/ AAA (ind) by Fitch Ratings.

Issue Opening

1st April  2013

Issue Closing

On  31.03.2015  (Extended).However,  the  Corporation  would

have a right to close the issue any time.

Face Value

Rs.10, 000/- per bond.

Mode of issue

Private placement.

Minimum

Application size

One Bond of Rs.10,000/-

Maximum

Application size

500 bonds of Rs.10, 000/- each as per conditions laid in the

Section 54 EC of the Income Tax Act, 1961.

Subscription amount

100% on application

Cheque/  DD  to  be

drawn in favour of:

RURAL ELECTRIFICATION CORPORATION LIMITED - 54EC

Bonds’

Deemed     date     of

allotment

Last day of each month in which the subscription money is

realized and credited to REC collection account.

Tenor

3 years from the deemed date of allotment.

Redemption

At par, at the end of 3 years from the deemed date of allotment.

Coupon    rate    and

date of payment

6.00% (payable annually on 30th June) from the  date of

realization of cheque/draft in the collection account of REC or such other interest rate as may be decided at the time of issue or subsequently.

Lock-in-period

3 years from date of allotment.

Transfer

Non-Transferable.

Trustee

IDBI Trusteeship Services Ltd., Mumbai.

Bankers to the Issue

HDFC Bank, Canara Bank, IDBI Bank, Indusind Bank, YES

Bank. (Designated branches as per list mentioned in IM or on designated website)

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

 

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