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Oct 18, 2010

L&T Infra Bonds - October 2010

L&T INFRASTRUCTURE FINANCE COMPANY LIMITED
Public Issue of Long Term Infrastructure Bonds in the Nature of Secured Redeemable and Non-Convertible Debentures 

COMPANY OVERVIEW:
  • L&T Infrastructure Finance Company Limited, a 100% subsidiary of L&T Finance Holdings Limited, was incorporated on April 18, 2006 and is registered with the RBI as a systemically important non deposit taking NBFC and an Infrastructure Finance Company (IFC)
  • The Business of the company is primarily to provide financial products and services for customers engaged in infrastructure development and construction, with a focus on the power, roads, telecommunications, oil and gas and ports sectors in India

Salient Features of the Issue




Issuer
L&T INFRASTRUCTURE FINANCE COMPANY LIMITED

Issue Details
Rs. 200 crore with an option to retain an oversubscription of up to Rs. 500 crore

Listing
National Stock Exchange

Face Value
Rs. 1000/- per bond

Offer Period
15-Oct  to  02-Nov-2010

Min. Application
5 Bonds & in multiple of 1 bond thereafter ( Rs. 5000/-  + 1000 + 1000 + …………)

Option
Series 1
Series 2
Series 3
Series 4

Interest Payment
Annual
Cumulative
Annual
Cumulative

Coupon Rate
7.75% p.a.
7.75%
7.5% p .a.
7.5% compounded


Compounded annually
annually

Buyback Option
First Working
First Working
First Working
First Working






Day after 7 years
Day after 7 years
Day after 5 years
Day after 5 years






from the Date of
from the Date of
from the Date of
from the Date of






Allotment
Allotment
Allotment
Allotment

Tax Rate
Yield to the Investors on Buyback ( with Tax Benefits u/s 80CCF)

10.30%
9.86%
9.44%
10.23%
9.86%

20.60%
12.31%
11.36%
13.42%
12.58%

30.90%
15.23%
13.59%
17.20%
15.75%

Eligible Investors
Resident Individuals and HUF

Rating
The Bonds have been rated 'CARE AA+' by CARE and `LAA+' by ICRA

Maturity
10 years from the Date of  Allotment











BENEFITS OF INVESTING IN THE LONG TERM INFRA BOND:
1) The Bonds are issued under the terms of Section 80 CCF of the Income Tax Act, 1961 which offer tax deduction of   
     up to Rs. 20,000
2)  The deduction with the investment in these bonds is over and above the tax deduction of Rs. 1,00,000 available
     under Section 80 C, 80 CCC and 80 CCD read with Section 80 CCE
3)  Investors can pledge or create lien on or hypothecate these bonds to avail loans from Scheduled Commercial
     Banks, after the lock-in period
4 ) The Bonds can be held in Physical or Dematerialized

To Apply Above Scheme:
To know your Infrastructure Bonds 2010 Allotment Status:

Fill in Application Details Here

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