• Issue of first tranche of infrastructure bonds ("Bonds") by the Company under Section 80CCF of the Income Tax Act, 1961
• Resident individuals and HUFs eligible for deduction of up
to Rs 20,000 in computation of taxable income for the current
financial year
• "CARE AA" Credit Rating by CARE indicating high degree of
safety with regards to timely servicing of financial
obligations.
• The Bonds Issue opened on December 31, 2011 and closes on
January 31, 2012
• The Bonds are proposed to be listed on BSE Limited
MUMBAI January 05, 2012: Srei Infrastructure Finance Limited
(SIFL), ("the Company or Issuer") has announced a Public
Issue of "Long Term Infrastructure Bonds" with a face value
of Rs 1000 each in the form of Secured Redeemable
Non-Convertible Debentures, to be issued in one or more
tranches not exceeding Rs 500 crores for the Fiscal 2011-12
('Shelf Limit"), having benefits under Section 80CCF of the
Income Tax Act, 1961 ("Issue").
Bonds by CARE indicates high degree of safety with regards to timely servicing of financial obligations.
Issue Structure: The Issue would be in one or more tranches, for an amount not exceeding the Shelf Limit. The amount raised in the subsequent tranches shall not exceed the difference between the Shelf Limit and the aggregate amount raised by issue of Bonds under the previous tranches. The minimum number of bonds per applicant is 1 bond and in multiples of 1 bond thereafter for resident individuals as well as for Hindu Undivided Family ("HUF). An applicant may choose to apply for the Tranche 1 Bonds across the same series or different series. The mode of allotment for these Tranche 1 Bonds would be in dematerialized form, however the applicant may hold in the Bonds in physical or dematerialized form.
These Bonds are being issued in four series with Interest
rate of 8.90% per annum for Series 1 and Series
2 and 9.15% per annum for Series 3 and Series 4. Interest
under Series 1 and Series 3 will be payable annually and
interest under Series 2 and Series 4 will be payable
cumulatively (compounded annually). All Series of bonds will
have a buy back option at the end of 5 years. The Bonds have
a maturity period of 10 years and 15 years and shall have a
lock-in period of 5 years and can be traded thereafter on
BSE. The Face Value per Bond is `1,000.
Section 80CCF of the Income Tax Act. As notified under
Section 80CCF, an amount, not exceeding Rs
20,000 per annum, paid or deposited as subscription to Long
Term Infrastructure Bonds during the previous year relevant
to the assessment year beginning April 01, 2012, shall be
deducted in computing the taxable income of a resident
individual or HUF. In the event that any applicant applies
for Bonds exceeding Rs 20,000 per annum, the aforesaid tax
benefit shall be available to such applicant only to the
extent of Rs 20,000 per annum.
The funds raised through the issue of the Tranche 1 Bonds
will be utilized towards "Infrastructure Lending" as defined
by Reserve Bank of India ("the RBI") in the Regulations
issued by it from time to time, after meeting the
expenditures of, and related to the Tranche 1 Issue.
The Lead Managers to the Tranche 1 Issue are ICICI Securities
Limited, Karvy Investor Services Limited, RR Investors
Capital Services Private Limited and Srei Capital Markets
Limited (a wholly owned subsidiary of the Company to be
engaged only in marketing of the Tranche 1 Issue) The Co-Lead
managers to the Issue are SMC Capitals Limited and Bajaj
Capital Limited whilst Axis Trustee Services Limited is the
Debenture Trustee to the Tranche 1 Issue.
SIFL, an Infrastructure Finance Company. was originally
incorporated on March 29, 1985 SIFL , a Public Financial
Institution (PFI), is engaged in Infrastructure Financing
business and the Company's businesses include infrastructure
project finance, infrastructure project development, project
advisory, infrastructure equipment finance, investment
banking, venture capital and insurance broking.
SIFL's equity shares are listed on National Stock Exchange of
India Limited ('NSE'), BSE Limited ('BSE') and
Calcutta Stock Exchange Limited ('CSE'). SIFL's
GDRs are listed on the London Stock Exchange ('LSE').
1 filed with
Registrar of Companies, Kolkata, West Bengal on December 28,
2011. The Shelf Prospectus and the Prospectus Tranche - 1 are
available on the websites of the stock exchange at
www.bseindia.com, the website of the Company at www.srei.com
and the respective websites of the Lead Managers at
www.icicisecurities.com, www.karvy.com, www.rrfcl.com,
www.srei.com and Co-Lead Managers at www.bajajcapital.com,
www.smccapitals.com. Any potential investor should note that
investment in bonds involves risks and for details relating
to the same, investors should see the Section titled "Risk
Factors" on Page 9 of the Shelf Prospectus. Investors should
also note that this is not an offer or an invitation to
subscribe to any securities of the Company.
Media persons, for further information, please contact:
Braj Kishore
Senior Vice President and Head Corporate Communication and
Brand Management
Srei Infrastructure Finance Limited
P:+ 91 33 6602.3211 (D) M: 91.98360.35599
E: braj.kishore@srei.com www.srei.com
Shruti Bhattacharya PR Manager Concept PR Mumbai
P: +91 22 40558900
M: +91 99203 54782
E: shruti@conceptpr.com
distribué par | Ce noodl a été diffusé par SREI Infrastructure Finance Ltd. et initialement mise en ligne sur le site http://www.srei.com. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-06 13:31:12 PM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |
Documents associés | |
Srei to issue tax-saving long term infrastructure bonds |