Indian Railway Finance Corporation (IRFC) is coming out with public issue of tax-free, secured, redeemable, non-convertible bonds, which will open for subscription on 06-01-2014. The face value of the bond is Rs 1000, and the minimum subscription is Rs 5000. IRFC intends to raise Rs crore from the issue. The bonds are issued with a tenor of 10 /15 years. It carries annual interest rate of 8.23 and 8.40 percent respectively. Interest will be paid on 15th of April every year. Bonds will be listed on BSE and NSE. SBI Caps, A K Capital, Axis Capital, ICICI Securities, Kotak Investments are the lead managers to the issue. SBI Caps Trustee Company is the trustee for the bond holders. KARVY is the registrar to the issue. The bonds issue closes on 20-01-2014. We recommend the investors to subscribe to the bonds issue.
