Public Issue of Tax Free Secured Redeemable Non-Convertible Bonds issued by. National Highways Authority of India (NHAI)

Size: px
Start display at page:

Download "Public Issue of Tax Free Secured Redeemable Non-Convertible Bonds issued by. National Highways Authority of India (NHAI)"

Transcription

1 Public Issue of Tax Free Secured Redeemable Non-Convertible Bonds issued by National Highways Authority of India (NHAI)

2 NHAI - Tax Free Bonds A. K. Stockmart Pvt. Ltd. Public Issue of Tax Free Secured Redeemable Non-Convertible Bonds issued by HIGHLIGHTS OF TAX BENEFITS In exercise of the powers conferred by item (h) of sub-clause (iv) of clause (15) of Section 10 of the Income Tax Act, 1961 (43 of 1961) the Central Government has authorised National Highway Authority of India to issue during the FY , Tax Free Secured Redeemable Non-Convertible Bonds of face value of Rs. 1,000 each aggregating upto Rs 10,000 crores. The income by way of interest on these Bonds is fully exempt from Income Tax and shall not form part of Total Income as per provisions under section 10 (15) (iv) (h) of IT Act. There will be no deduction of tax at source from the interest, which accrues to the bondholders on these bonds irrespective of the amount of the interest or the status of the investors. Wealth Tax is not levied on investment in Bonds under section 2(ea) of the Wealth-tax Act, HIGHLIGHTS An autonomous body of Government of India under the Ministry of Road, Transport Highways constituted on June 15, 1989 by an act of Parliament - The National Highways Authority of India Act, 1988 and operationalized in February 1995 Conducts survey, develop, maintain and manage the National Highways, to construct offices or workshops, to establish and maintain hotels, restaurants and rest rooms at or near the highways vested in or entrusted to it Nodal agency for development of National Highway Projects under NHDP and allied programmes approved by the Government of India. As on August 31, 2011, NHAI has awarded 141 BOT Toll based contracts valued at Rs. 1,04,984 crores, 49 BOT Annuity based contracts valued at Rs. 29,081 crores through PPP mode Sources of funds include (i) Government support in the form of capital base, cess funds, additional budgetary support, capital grants, maintenance grant, ploughing back of toll revenue and loan from GoI, (ii) loan from multilateral agencies and (iii) market borrowings As on 31st March 2011, shareholders funds stood at Rs. 55, crores against Rs. 44, crores in the previous year As on 31st March, 2011, the balance sheet size of NHAI is Rs 76, crores while Debt to Capital Ratio stood at 0.12x Source: Final Prospectus Tranche 1 (December ) 2

3 NHAI - Tax Free Bonds A. K. Stockmart Pvt. Ltd. SALIENT FEATURES OF THE PROPOSED TAX FREE BONDS Strengths Tax benefits u/s 10 (15) (iv) (h) of the Income Tax Act, 1961 interest on these Bonds shall not form part of Total Income. Credit Ratings of CRISIL AAA/Stable by CRISIL, CARE AAA by CARE and Fitch AAA(ind) with Stable Outlook by FITCH indicating Highest Degree of Safety in terms of timely servicing of financial obligations. Bonds can be held in physical or in dematerialized form, at the option of bondholders Bonds are proposed to be listed on the BSE and NSE NHAI is nodal agency for development of NH Projects under NHDP and allied programmes approved by GoI: The nature and charter of NHAI makes it a nodal agency for development of NH projects under NHDP and allied programmes approved by GoI. NHAI infuses and channels private players participation and funds into immediate areas of development bringing about a healthy participatory economy. There are no direct competitors to NHAI. Track record of consistent operational performance and growth NHAI has an established track record of consistent growth and performance. It completed projects of 1783 kms against award of 5059 km in FY as against completion of 636 kms against award of 1730 kms in Pioneering initiatives in the road sector in India NHAI has initiated several innovative processes over the years which have been different from existing industry practices and have led to improved construction and service quality in the contracts. Strategic role in GoI initiatives and established relationships with infrastructure sector participants NHAI derives a strategic advantage from our strong relationship with the GoI and occupy a key position in plans for the growth and development of the Indian highway sector. NHAI has been involved in the development and implementation of various programmes, policies and structural and procedural reforms for the highway sector in India. Favorable credit rating and access to various cost-competitive sources of funds NHAI receives funds through (i) Government support in the form of capital base, cess fund, additional budgetary support, capital grant, maintenance grant, ploughing back of toll revenue and loan from GoI; (ii) loan from multilateral agencies and (iii) market borrowing, thus dragging its average cost of capital. Further the highest credit rating of AAA by CRISIL, CARE & Fitch helps NHAI to borrow at competitive costs. Source: Final Prospectus Tranche 1 (December ) 3

4 NHAI - Tax Free Bonds Issue Structure Issue Opening Date Issue Closing Date Instrument Instrument Form Trading Tranche 1 Issue Credit Rating Tenor/Redemption Date Lead Managers to the Issue Trustee for the Bondholders Depositories Proposed to be listed on Interest on Application Money Interest on Application Money which is liable to be refunded A. K. Stockmart Pvt. Ltd. 28-Dec-2011 January 11, 2012, except that the Issue may close at the close of banking hours on the dates specified, with an option for early closure or extension by such period, upto a period of 30 days from the date of opening of the Issue, as may be decided by the Board of NHAI subject to necessary approvals. In the event of such early closure of the subscription list of the Issue, NHAI shall ensure that public notice of such early closure is published on or before the day of such early date of closure through advertisement/s in a leading national daily newspaper. Further, Allotment shall be on first cum first serve basis for Category I and II and proportionate basis for Category III, with NHAI having the discretion to close the Issue early irrespective of whether or not any of the Portion(s) are fully subscribed. Tax Free Secured Redeemable Non-Convertible Bonds in the nature of Debentures In physical or in dematerialized form, at the option of the investors Compulsorily in dematerialized form Public Issue aggregating Rs crores with an option to retain an oversubscription upto the Shelf Limit (i.e. Rs. 10,000 crores) CRISIL AAA/Stable by CRISIL, CARE AAA by CARE & "Fitch AAA (ind) with Stable Outlook by FITCH 10 Years and 15 Years A. K. Capital Services Ltd, SBI Capital Markets Ltd, ICICI Securities Ltd** and Kotak Mahindra Capital Company Ltd** SBICAP Trustee Company Limited NSDL and CDSL BSE & NSE Interest on application money on the amount allotted, subject to deduction of income tax under the provisions of the Income Tax Act, 1961, as amended, as applicable, to any applicants to whom Bonds are allotted pursuant to the Issue from the date of realization of the cheque(s)/demand draft(s) or 3 (three) days from the date of receipt of the application (being the date of submission of each application as duly acknowledged by the Bankers to the Issue) whichever is later upto one day prior to the Deemed Date of 8.20% per annum and 8.30% per annum for Tranche 1 and Series 1 and Tranche 1 and Series 2 Bonds respectively Interest on application money which is liable to be refunded to the applicants in accordance with the provisions of the SEBI Debt Regulations, or other applicable statutory and/or regulatory requirements, subject to deduction of income tax under the provisions of the Income Tax Act, 1961, as amended, as applicable, from the date of realization of the cheque(s)/demand draft(s) or 3 (three) days from the date of receipt of the application (being the date of presentation of each application as acknowledged by the Bankers to the Issue) whichever is later upto one day prior to the Deemed Date of 4.00% per annum ** For Marketing only Source: Final Prospectus Tranche 1 (December ) 4

5 NHAI - Tax Free Bonds A. K. Stockmart Pvt. Ltd. Bond Particulars Series Tranche 1 Series 1 Tranche 1 Series 2 Face Value per Bond Rs. 1,000 Rs. 1,000 Minimum Application Rs 50,000 (50 Bonds) Rs 50,000 (50 Bonds) In Multiples of 1 Bonds (Rs. 1,000/-) thereafter Frequency of Interest payment Annual Annual Interest Rate p.a. (%) 8.20% 8.30% Interest Payment Dates Every year on October 01, and on respective maturity Redemption /Maturity Date Maturity Amount Redemption Amount At the end of 10 years from the Deemed Date of Allotment Repayment of the Face Value plus any interest that may have accrued at the Redemption Date Repayment of the Face Value plus any interest that may have accrued at the Redemption Date At the end of 15 years from the Deemed Date of Allotment Repayment of the Face Value plus any interest that may have accrued at the Redemption Date Repayment of the Face Value plus any interest that may have accrued at the Redemption Date Source: Final Prospectus Tranche 1 (December ) 5

6 NHAI - Tax Free Bonds A. K. Stockmart Pvt. Ltd. Who can Apply? Category Category I Public Financial Institutions, Statutory Corporations, Commercial Banks, Co-operative Banks and Regional Rural Banks, which are authorised to invest in the Bonds Provident Funds, Pension Funds, Superannuation Funds and Gratuity Funds, which are authorised to invest in the Bonds Foreign Institutional Investors (including subaccounts) Category II (Above Rs. 5 Lakh) Resident Indian individuals Hindu Undivided Families through the Karta Non Resident Indians on repatriation as well as non-repatriation basis Category III (Below & including Rs. 5 Lakh) Resident Indian individuals Hindu Undivided Families through the Karta Non Resident Indians on repatriation as well as non-repatriation basis Insurance Companies registered with the IRDA National Investment Fund Mutual Funds Companies; bodies corporate and societies registered under the applicable laws in India and authorised to invest in the Bonds Public/private charitable/religious trusts which are authorised to invest in the Bonds Scientific and/or industrial research organisations, which are authorised to invest in the Bonds Partnership firms in the name of the partners Limited liability partnerships formed and registered under the provisions of the Limited Liability Partnership Act, 2008 (No. 6 of 2009) Applications cannot be made by: o Minors without a guardian name; o Foreign nationals; o Persons resident outside India other than NRIs ; o Overseas Corporate Bodies Source: Final Prospectus Tranche 1 (December ) 6

7 NHAI - Tax Free Bonds A. K. Stockmart Pvt. Ltd. Basis of Allotment Category Category I Category II Category III (Above Rs. 5 Lakh) (Below & including Rs. 5 Lakh) Size in % 40% of Overall Issue Size 30% of Overall Issue Size 30% of Overall Issue Size Basis of allocation in case of oversubscription On first-come-first-serve basis On first-come-first-serve basis On proportionate basis Undersubscription: If there is any under subscription in any Portion, priority in allotments will be given in the following order of preference to: (i) Category III Portion (ii) Category II Portion (iii) Category I Portion Oversubscription: In case of an oversubscription, allotments to the maximum extent, as possible, will be made on a first-come first-serve basis and thereafter on proportionate basis, i.e. full allotment of Bonds to the applicants on a first come first basis up to the date falling 1 (one) day prior to the date of oversubscription and proportionate allotment of Bonds to the applicants on the date of oversubscription (based on the date of submission of each application to the Bankers to the Issue, in each Portion). In case of oversubscription in Category III Portion, all valid applications received during the Issue Period, shall be treated at par and considered for allotment on a proportionate basis. Source: Final Prospectus Tranche 1 (December ) 7

8 NHAI - Tax Free Bonds A. K. Stockmart Pvt. Ltd. FINANCIAL HIGHLIGHTS (Rs. in crore) As on/for the year 31-Mar Mar Mar Mar Mar-11 Capital 22, ,711,92 36, , , Reserves & Surplus 1, , , Capital Grants 9, , , , , Borrowings 4, , , , , Gross Block Net Block Capital Work in Progress 15, , , , , Expenditure on Completed Projects 17, , , , , Investments , , Source: Final Prospectus Tranche 1 (December ) Disclaimer: Invest only after referring to final prospectus 8

9 Draft FAQs and Answers Issue Related FAQs 1. What is the Issue Size? Ans: CBDT as vide its notification authorized us to raise tax free bonds for total amount of upto Rs. 10,000 crores in one or more tranches in the financial year Through this first tranche issue, we are targeting to raise Rs crores and we shall reserve an option to retain oversubscription such that the aggregate value of bonds issued does not exceed Rs. 10,000 crores. 2. What is the face value of these Bonds? Ans: The Face Value per Bond is Rs. 1,000. Each bond is being issued and shall be redeemed at par. 3. What is the frequency of interest payment? Ans: Interest on bonds is payable annually, Interest shall be payable on 1 st October, every year and at the time of redemption. 4. What is the minimum application amount and mode of payment to be payable on application? Ans: The minimum application size is 50 Bonds. i.e. Rs. 50,000/- in any ore or combination of Series(s) of Bonds.and in multiples of one thereafter. Full amount of face value per Bond is payable on application. 5. Is there any reservation for individual investor investing in this issue? Ans: Yes. There is a reservation of 30 % for retail investors (individuals and HUFs applying for an amount upto Rs. 5 lacs) and reservation of 30 % for HNI investors (individuals and HUFs applying for an amount above Rs. 5 lacs). 6. Is demat account necessary to invest in these bonds? Ans: No. The issuance shall be both in physical as well as in dematerialized form at the option of the investors. However as per the SEBI Debt Regulations, the trading of the Bonds shall be compulsorily in dematerialised form. 7. Who is not eligible to invest in the issue? Ans: Applications cannot be made by: a) Minors without a guardian name; b) Foreign nationals; c) Persons resident outside India other than NRIs; and d) Overseas Corporate Bodies 8. Can the application be made on joint names? Ans: Yes. Applications may be made in single or joint names (not exceeding three). In the case of joint Applications, all refunds/ interests/ redemption amounts will be made out in favour of the first Applicant. All communications will be addressed to the first named Applicant whose name appears in the Application Form at the address mentioned therein. 1 P a g e

10 Names in the Application Form should be identical to those appearing in the account details in the Depositories. In case of joint holders, the names should necessarily be in the same sequence as they appear in the account details in the Depositories. 9. Can NHAI pre-close the issue in the event of oversubscription? Ans: The subscription list for the Issue shall remain open for subscription at the commencement of banking hours on December 28, 2011 and close at the close of banking hours on January 11, 2012, with an option for early closure (subject to the Issue being open for a minimum of 3 days) or extension by such period, upto a maximum period of 30 days from the date of opening of the Issue, as may be decided by the Board of NHAI subject to necessary approvals. In the event of such early closure of the subscription list of the Issue, NHAI shall ensure that public notice of such early closure is published on or before the day of such early date of closure through advertisement/s in a leading national daily newspaper. 10. Which stock exchange are the bonds proposed to be listed on? Ans: The Bonds will be listed on both BSE and NSE. BSE shall be the designated stock exchange. 11. What is the annualized rate of interest received by an investors falling under Category III as individual investors? Ans: Since the coupon rate on bonds is payable annually, the annualized yield on bonds shall be same as the respective coupon rate. 12. What is the interest on application money on allotted amount? Ans: We shall pay interest on application money on the amount allotted at the rate of 8.20 % p.a. for series I and 8.30% p.a. for series II subject to TDS. The interest will be paid from the date of realization of the cheque(s)/demand draft(s) or 3 (three) days from the date of receipt of the application whichever is later upto one day prior to the Deemed Date of Allotment. 13. What is the interest on application money which is liable to be refunded? Ans: We shall pay interest on application money which is liable to be refunded at the rate of 4 % p.a. subject to TDS. The interest will be paid from the date of realization of the cheque(s)/demand draft(s) or 3 (three) days from the date of receipt of the application whichever is later upto one day prior to the Deemed Date of Allotment. However, NHAI shall not be liable to pay any interest on monies liable to be refunded in case of (a) invalid applications or applications liable to be rejected, and/or (b) applications which are withdrawn by the applicant. 14. What are the tenors of these bonds? Ans: The tenor for these Bonds will be 10 years for Trenche I Series I and 15 years for Trenche I Series II 2 P a g e

11 15. Can you describe the investor categories? Ans: Category I: Public Financial Institutions, Statutory Corporations, Commercial Banks, Cooperative Banks and Regional Rural Banks, which are authorised to invest in the Bonds; Provident Funds, Pension Funds, Superannuation Funds and Gratuity Fund, which are authorised to invest in the Bonds; Insurance companies registered with the IRDA; National Investment Fund; Mutual Funds; Foreign Institutional Investors (including sub-accounts) Companies; bodies corporate and societies registered under the applicable laws in India and authorised to invest in the Bonds; Public/private charitable/religious trusts which are authorised to invest in the Bonds; Scientific and/or industrial research organisations, which are authorised to invest in the Bonds; Partnership firms in the name of the partners; Limited liability partnerships formed and registered under the provisions of the Limited Liability Partnership Act, 2008 (No. 6 of 2009) Category II: The following investors applying for an amount aggregating to above ` 5 lakhs across all Series in each tranche Resident Indian individuals; Hindu Undivided Families through the Karta and Non Resident Indians on repatriation as well as non-repatriation basis. Category III: The following investors applying for an amount aggregating to upto and including ` 5 lakhs across all Series in each tranche Resident Indian individuals; Hindu Undivided Families through the Karta and Non Resident Indians on repatriation as well as non-repatriation basis. 16. Who can not invest in these bonds and what is the basis of allotment? Ans: Minors without a guardian name, Foreign nationals, Persons resident outside India other than NRIs and Overseas Corporate Bodies can not invest in these bonds The basis of allotment of allotment is on first come first basis. With - Applicants belonging to the Category I, in the first instance, will be allocated Bonds upto 40 % of Overall Issue Size on first come first serve basis (determined on the basis of date of receipt of each application duly acknowledged by the Bankers to the Issue); 3 P a g e

12 4 P a g e Applicants belonging to the Category II, in the first instance, will be allocated Bonds upto 30 % of Overall Issue Size on first come first serve basis (determined on the basis of date of receipt of each application duly acknowledged by the Bankers to the Issue); and Basis of Allotment on Proportionate Basis Applicants belonging to the Category III, in the first instance, will be allocated Bonds upto 30 % of Overall Issue Size on first come first serve basis (determined on the basis of date of receipt of each application duly acknowledged by the Bankers to the Issue); If there is any under subscription in any Portion, priority in allotments will be given in the following order: i. Category III Portion ii. Category II Portion iii. Category I Portion In case of an oversubscription, allotments to the maximum extent, as possible, will be made on a first-come first-serve basis and thereafter on proportionate basis, i.e. full allotment of Bonds to the applicants on a first come first basis up to the date falling 1 (one) day prior to the date of oversubscription and proportionate allotment of Bonds to the applicants on the date of oversubscription (based on the date of submission of each application to the Bankers to the Issue, in each Portion). 17. What is the intended use of proceeds? Ans: We intend to deploy the Issue proceeds towards part financing of the various projects being implemented by us under the NHDP and other National Highways projects as approved by the GoI. 18. What are the documents/ certificates that need to be filed along with the Application Form? Ans: In Case of Applications for Allotment of Bonds in the physical form Any Applicant who wishes to subscribe to the Bonds in physical form shall undertake the following steps: (i) All applicants have to mention their PAN Number. However, they do not require to provide the Depository Participant details in the Application Form. The requirement for providing Depository Participant details shall be mandatory only for the Applicants who wish to subscribe to the Bonds in dematerialised form. (ii) The following documents are required along with the Application Form: (a) Self-attested copy of the PAN card; (b) Self-attested copy of the proof of residence: ration card issued by the GoI; or valid driving license issued by any transport authority of the Republic of India; or electricity bill (not older than three months); or landline telephone bill (not older than three months); or valid passport issued by the GoI; or

13 Voter s Identity Card issued by the GoI; or passbook or latest bank statement issued by a bank operating in India; or leave and license agreement or agreement for sale or rent agreement or flat maintenance bill; In Case of Applications for Allotment of Bonds in the dematerialised form All applicants have to mention their PAN Number Other documents/certificates required depending on types of applicants Applications by Mutual Funds: The applications must be also accompanied by certified true copies of: (i) SEBI Registration Certificate and trust deed (ii) resolution authorising investment and containing operating instructions and (iii) specimen signatures of authorised signatories Application by Commercial Banks, Co-operative Banks and Regional Rural Banks: The application must be accompanied by certified true copies of: (i) Board Resolution authorising investments; (ii) Letter of Authorisation Application by Insurance Companies: The applications must be accompanied by certified copies of: (i) Memorandum and Articles of Association (ii) Power of Attorney (iii) Resolution authorising investment and containing operating instructions (iv) Specimen signatures of authorised signatories Applications by Trusts: In case of Applications made by trusts, settled under the Indian Trusts Act, 1882, as amended, or any other statutory and/or regulatory provision governing the settlement of trusts in India, must submit a (i) certified copy of the registered instrument for creation of such trust, (ii) Power of Attorney, if any, in favour of one or more trustees thereof, (iii) such other documents evidencing registration thereof under applicable statutory/regulatory requirements Applications under Power of Attorney: In case of Investments made pursuant to a power of attorney by Category I investors, a certified copy of the power of attorney or the relevant resolution or authority, as the case may be, along with a certified copy of the memorandum of association and articles of association and/or bye laws and/or charter documents, as applicable, must be lodged along with the Application Form. In case of Investments made pursuant to a power of attorney by Category II and Category III investors, a certified copy of the power of attorney must be lodged along with the Application Form. 5 P a g e

14 19. Can an applicant trade the bonds in the market? Ans: Yes. The Bonds will be listed on both BSE and NSE. The trading of the Bonds shall be in dematerialised form only. 20. Is there any additional rate of interest for Senior citizens? Ans: No 21. Can an applicant make additional / multiple applications? Ans: An Applicant may make multiple applications for the total number of Bonds required and the same shall be considered valid. For the purposes of allotment of Bonds under the Issue, applications shall be grouped based on the PAN, i.e. applications under the same PAN shall be grouped together. Two or more applications will be deemed to be multiple applications if the sole or first applicant is one and the same. For the sake of clarity, two or more applications shall be deemed to be a multiple application for the aforesaid purpose if the PAN number of the sole or the first applicant is one and the same. 22. Can an applicant make changes to his/her application? Ans: No. Applicants are not allowed to amend applications, once submitted to the Escrow Bankers. However, an applicant can withdraw all or any of the application made until the basis of allotment is approved by the BSE. 23. What is the tax treatment of these bonds? Ans: The interest on these bonds shall not be included while computing the Total Income of an assessee as per provisions of section 10(15)(iv)(h) of the Income Tax Act, Interest from bonds will be exempt from income tax Since the interest income on these bonds is exempt, no Tax Deduction at Source (TDS) is required Under section 2 (29A) of the I.T. Act, read with section 2 (42A) of the I.T. Act, a listed Bond is treated as a long term capital asset if the same is held for more than 12 months immediately preceding the date of its transfer. Under section 112 of the I.T. Act, capital gains arising on the transfer of long term capital assets being listed securities are subject to tax at the rate of 20% of capital gains calculated after reducing indexed cost of acquisition or 10% of capital gains without indexation of the cost of acquisition Wealth-tax is not levied on investment in bond under section 2(ea) of the Wealth-tax Act, 1957 The Bond Holder is advised to consider in his own case the tax implications in respect of subscription to the Bond after consulting his tax advisor as alternate views are possible interpretation of provisions where under the contents of his statement of tax benefit is formulated may be considered differently by income tax authority, government, tribunals or court. We are not liable to the Bond Holder in any manner for placing reliance upon the contents of this statement of tax benefits 6 P a g e

15 24. What is the process on maturity? Does one have to fill a form, etc? Ans: The face value of the Bonds will be redeemed at par, on the respective Maturity Dates of each of the Bond Series: Bonds held in electronic form: No action is required on the part of Bondholders at the time of maturity of the Bonds Bonds held in physical form: No action will ordinarily be required on the part of the Bondholder at the time of redemption, and the Maturity Amount will be paid to those Bondholders whose names appear in the Register of Bondholders maintained by NHAI on the Record Date fixed for the purpose of redemption. However, NHAI may require the Consolidated Bond Certificate(s), duly discharged by the sole holder or all the joint-holders (signed on the reverse of the Consolidated Bond Certificate(s)) to be surrendered for redemption on Maturity Date and sent by the Bondholders by registered post with acknowledgment due or by hand delivery to the Registrar to the Issue or NHAI or to such persons at such addresses as may be notified by NHAI from time to time. Bondholders may be requested to surrender the Consolidated Bond Certificate(s) in the manner stated above, not more than three months and not less than one month prior to the Maturity Date so as to facilitate timely payment. 7 P a g e

16 NHAI - Tax Free Bonds A. K. Stockmart Pvt. Ltd. DISCLAIMER: This document has been prepared by A. K. STOCKMART (P) LTD. This document is subject to changes without prior notice and is intended only for the person or entity to which it is addressed to. No portion of this document shall be reproduced, reprinted, duplicated, sold or redistributed. Also, this publication may not be distributed to the public media or quoted or used by the public media without the express written consent of A. K. STOCKMART (P) LTD. Kindly note this document does not constitute an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Though disseminated to all the customers simultaneously, not all customers may receive this report at the same time. A. K. STOCKMART (P) LTD. will not treat recipients as customers by virtue of their receiving this report. The information contained herein is from publicly available data. Opinion expressed is our current opinion as of the date appearing on this material only. While we would endeavor to update the information herein on a reasonable basis, A. K. STOCKMART (P) LTD., its holdings and associated companies, their directors and employees ( A. K. STOCKMART (P) LTD. and affiliates ) are under no obligation to update or keep the information updated. Also, there may be regulatory, compliance, or other reasons that may prevent A. K. STOCKMART (P) LTD. and affiliates from doing so. We do not warrant the accuracy, adequacy or completeness of this information and materials and expressly disclaims liability for any errors or omissions or delays in this information and materials. Technical analysis is generally based on the study of trading volumes and price movements in an attempt to identify and project price trends. Technical analysis does not consider the fundamentals of the underlying securities discussed in this report and may offer and investment opinion that conflicts with the recommendations or opinions on underlying securities issued by fundamental equity research analyst of any of its associates. Prospective investors and others are cautioned that any forward-looking statements are not predictions and may be subject to change without notice. This document is prepared for assistance only and is not intended to be and must not alone be taken as the basis for investment decisions. Past performance is not necessarily indicative of future returns. The user assumes the entire risk of any use made of this information. Each recipient of this document should make such investigations as it deems necessary to arrive at as independent evaluation of and investment in the financial instruments referred to in this document (including merits and risks involved), and should consult its own advisors to determine the merits and risks of such investments. The investments discussed or views expressed may not be suitable for all investors. We do not undertake to advise you as to any change of our views. Our proprietary trading and investment businesses may make investment decisions that are inconsistent with the recommendations expressed herein. Affiliates of A. K. STOCKMART (P) LTD. may have issued other reports that are inconsistent with and reach different conclusions from the information presented in this report. This report is not directed or intended for distribution to, or use by, any person or entity who is citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subject A. K. STOCKMART (P) LTD. and affiliates to any registration or licensing requirement within such jurisdiction. The financial instruments described herein may or may not be eligible for sale in all jurisdictions or to certain category of investors. Person in whose possession this document may come are required to inform themselves of and to observe such restriction. A. K. STOCKMART (P) LTD. & affiliates may have used this information set forth before publication and may have positions in, may from time to time purchase or sell or may be materially interested in any of the financial instruments or related securities. A. K. STOCKMART (P) LTD. & affiliates may from time to time, have long or short positions in, or buy or sell the securities thereof, of the company(ies) mentioned herein or be engaged in any other transaction involving such securities and earn brokerage or other compensation or act as a market maker in the financial instruments of the company(ies) discussed herein or act as advisor or lender/ borrower to such company(ies) or have other potential conflict of interest with respect to any recommendation and related information and opinions. A. K. STOCKMART (P) LTD. may from time to time solicit from, or perform investment banking, or other service for, any company mentioned herein. Without limiting any of the foregoing, in no event shall A. K. STOCKMART (P) LTD. or any of its affiliates or any third party involved in,or rated to, computing or compiling the information have any liability for any damages of any kind. Any comment or statements made herein are those of the analysts and do not necessarily those of A. K. STOCKMART (P) LTD. 9

17 DISCLAIMER: This document has been prepared based on Final Prospectus and is for informational purpose only. Invest only after referring to final prospectus. It is meant for the recipient for use as intended and not for circulation. This document should not be reported or copied or made available to others. The information contained herein is from the public domain or sources believed to be reliable. While reasonable care has been taken to ensure that information given is at the time believed to be fair and correct and opinions based thereupon are reasonable, due to the very nature of research it cannot be warranted or represented that it is accurate or complete and it should not be relied upon as such. We do not guarantee the accuracy, adequacy or completeness of any Data in the Report and is not responsible for any errors or omissions or for the results obtained from the use of such Data. The company and its employees will not in any way be responsible for the contents of this report. The securities discussed in this report may not be suitable for all investors. Investors must make their own investment decision based on their own investment objectives, goals and financial position and based on their own analysis. The company states that it has no financial liability whatsoever towards any investments based on this research report. Sharekhan Ltd: BSE Cash-INB/ INF ; NSE - INB/INF /INE ; MCX-SX INE DP: NSDL-IN-DP- NSDL ; CDSL-IN-DP-CDSL ; PMS INP Sharekhan Commodities Pvt. Ltd.: MCX-10080; NCDEX ; Regd/Admin Add:- Lodha ithink Techno Campus, 10th Floor, Beta Building, Off. JVLR, Opp. Kanjurmarg Station, Kanjurmarg (East), Mumbai , Maharashtra. for any complaints at Sharekhan Disclaimer: Sharekhan Ltd is engaged as a distributor of IPOs/ Bonds/ NCDs/ FDs/ Mutual Funds. Sharekhan or any of its group concerns do not in any manner recommends any product or any of its characteristics. The client is advised to take his / her own independent decisions for investing in any financial product after understanding their respective nature and risk and returns involved. The client may also approach his / her own consultants for investing in financial products or in relation to the tax related aspects. We do not solicit any action based upon this promotional material. Please note that the product does not take into account any particular investment objectives, financial decisions or needs of individual recipients. Neither Sharekhan nor any person connected with Sharekhan accepts any liability arising out of investment suggested in this material.

Public Issue of Tax Free Secured Redeemable Non-Convertible Bonds issued by

Public Issue of Tax Free Secured Redeemable Non-Convertible Bonds issued by Public Issue of Tax Free Secured Redeemable Non-Convertible Bonds issued by HIGHLIGHTS OF TAX BENEFITS In exercise of the powers conferred by item (h) of sub-clause (iv) of clause (15) of Section 10 of

More information

RURAL ELECTRIFICATION CORPORATION LIMITED (A Government of India Undertaking)

RURAL ELECTRIFICATION CORPORATION LIMITED (A Government of India Undertaking) RURAL ELECTRIFICATION CORPORATION LIMITED (A Government of India Undertaking) HIGHLIGHTS OF TAX BENEFITS The income by way of interest on these Bonds is exempt from Income Tax and shall not form part of

More information

The issue offers yield ranging from % to % depending upon the series applied for and category of investor

The issue offers yield ranging from % to % depending upon the series applied for and category of investor INVESTMENT RATIONALE The issue offers yield ranging from 12.25 % to 12.6184% depending upon the series applied for and category of investor Opportunity to invest in a subsidiary of Religare Enterprises

More information

IRFC Public Issue of Tax Free Bonds

IRFC Public Issue of Tax Free Bonds INDIAN RAILWAY FINANCE CORPORATION LIMITED Issue opening on 25 Feb 2013 HIGHLIGHTS OF TAX BENEFITS Interest from these Bonds do not form part of total income as per provisions of Section 10 (15) (iv) (h)

More information

Shriram Transport Finance Company Limited

Shriram Transport Finance Company Limited ISSUE SALIENT FEATURES Yields range from 9.65% to 11.15% depending on the series applied for (Series I, II, III, IV & V) and the category of investor Credit Rating of CRISIL AA/Stable by CRISIL and CARE

More information

NHAI Public Issue of Tax Free Bonds Tranche II

NHAI Public Issue of Tax Free Bonds Tranche II NHAI Public Issue of Tax Free Bonds Tranche II HIGHLIGHTS OF TAX BENEFITS NATIONAL HIGHWAYS AUTHORITY OF INDIA (An Autonomous Body under the Ministry of Road Transport & Highways, Government of India)

More information

REC Tax Free Bonds. RURAL ELECTRIFICATION CORPORATION LIMITED (A Government of India Undertaking) HIGHLIGHTS OF TAX BENEFITS COMPANY PROFILE

REC Tax Free Bonds. RURAL ELECTRIFICATION CORPORATION LIMITED (A Government of India Undertaking) HIGHLIGHTS OF TAX BENEFITS COMPANY PROFILE RURAL ELECTRIFICATION CORPORATION LIMITED (A Government of India Undertaking) HIGHLIGHTS OF TAX BENEFITS Interest from these Bonds do not form part of Total Income as per provisions under section 10 (15)

More information

NHAI Public Issue of Tax Free Bonds

NHAI Public Issue of Tax Free Bonds 17 2015 December, 31 2015 HIGHLIGHTS OF TAX BENEFITS NATIONAL HIGHWAYS AUTHORITY OF INDIA (An Autonomous Body under the Ministry of Road Transport & Highways, Government of India) Interest from these Bonds

More information

Public Issue of India Infoline Finance Ltd. NCD

Public Issue of India Infoline Finance Ltd. NCD P a g e 1 Q1. What is the nature and size of issue? Issue Related FAQs Ans: Public Issue of Non-convertible Debentures (NCDs) in the nature of Sub-ordinated debt of face value of Rs. 1,000/- per bond with

More information

Shriram City Union Finance Limited. Issue Related FAQs

Shriram City Union Finance Limited. Issue Related FAQs Shriram City Union Finance Limited Issue Related FAQs Q1. What is the Nature & Size of the Issue? Ans: Public Issue by Shriram City Union Finance Limited, ( Company or Issuer ) of Secured Non- Convertible

More information

SBI Capital Markets Ltd, AK capital Services Ltd, ICICI Securities, Kotak Invest Banking

SBI Capital Markets Ltd, AK capital Services Ltd, ICICI Securities, Kotak Invest Banking Issuer Issue Recommendation Acceptance Public Issue of tax free NCDs aggregating to Rs.5000 crs with an option to retain oversubscription upto Rs.5000 crs for issuance of additional NCDs. SUBSCRIBE ON

More information

A.K. Stockmart Pvt. Ltd. Public Issue of Tax Free Secured Redeemable Non Convertible Bonds by NHPC LIMITED Oct 18, Nov 11, 2013

A.K. Stockmart Pvt. Ltd. Public Issue of Tax Free Secured Redeemable Non Convertible Bonds by NHPC LIMITED Oct 18, Nov 11, 2013 A.K. Stockmart Pvt. Ltd. Public Issue of Tax Free Secured Redeemable Non Convertible Bonds by NHPC LIMITED Oct 18, 2013- Nov 11, 2013 NHPC LIMITED (A Government of India Undertaking) HIGHLIGHTS OF TAX

More information

REC Tax Free Bonds. RURAL ELECTRIFICATION CORPORATION LIMITED (A Government of India Undertaking) HIGHLIGHTS OF TAX BENEFITS COMPANY PROFILE

REC Tax Free Bonds. RURAL ELECTRIFICATION CORPORATION LIMITED (A Government of India Undertaking) HIGHLIGHTS OF TAX BENEFITS COMPANY PROFILE RURAL ELECTRIFICATION CORPORATION LIMITED (A Government of India Undertaking) HIGHLIGHTS OF TAX BENEFITS Interest from these Bonds do not form part of Total Income as per provisions under section 10 (15)

More information

RURAL ELECTRIFICATION CORPORATION LIMITED Tax Free Bonds

RURAL ELECTRIFICATION CORPORATION LIMITED Tax Free Bonds RURAL ELECTRIFICATION CORPORATION LIMITED Tax Free Bonds Options Tranche 1 Series 1 Tranche 1 Series 2 Tranche 1 Series 3 Issue Opens Friday, August 30, 2013 Issue Closes Monday, September 23, 2013* Issuer

More information

A Wholly Owned Government Company

A Wholly Owned Government Company PUBLIC ISSUE OF TAX FREE SECURED REDEEMABLE NON CONVERTIBLE DEBENTURES of face value of ` 1,000 each having tax benefits under section 10(15) (iv) (h) Income Tax Act, 1961, as amended for an amount aggregating

More information

RURAL ELECTRIFICATION CORPORATION LIMITED (A Government of India Undertaking)

RURAL ELECTRIFICATION CORPORATION LIMITED (A Government of India Undertaking) RURAL ELECTRIFICATION CORPORATION LIMITED (A Government of India Undertaking) HIGHLIGHTS OF TAX BENEFITS Interest from these Bonds shall not be included in total income of any person as per provisions

More information

Company Highlights. Strengths. Strategies. Financials Performance

Company Highlights. Strengths. Strategies. Financials Performance PUBLIC ISSUE OF TAX FREE, SECURED, REDEEMABLE, NON CONVERTIBLE BONDS of face value of ` 1,000 each, having tax benefits under section 10(15) (iv) (h) Income Tax Act, 1961, as amended for an amount aggregating

More information

ISSUE STRUCTURE. The key common terms and conditions of the Bonds are as follows: COMMON TERMS FOR ALL SERIES OF THE BONDS

ISSUE STRUCTURE. The key common terms and conditions of the Bonds are as follows: COMMON TERMS FOR ALL SERIES OF THE BONDS ISSUE STRUCTURE The CBDT has, by the CBDT Notification, authorised our Company to raise the Bonds aggregating to ` 10,00,000 lakhs. Pursuant to the CBDT Notification and the Prospectus Tranche-1, our Company

More information

Bonanza Portfolio Ltd

Bonanza Portfolio Ltd Public Issue of Tax Free Secured Redeemable Non-Convertible Bonds issued by HIGHLIGHTS OF TAX BENEFITS In exercise of the powers conferred by item (h) of sub-clause (iv) of clause (15) of Section 10 of

More information

RELIANCE HOME FINANCE LIMITED

RELIANCE HOME FINANCE LIMITED RELIANCE HOME FINANCE LIMITED INVESTMENT RATIONALE The issue offers yields ranging from 8.70% to 9.40% depending up on the Category of Investor and the option applied for. Credit Rating of CARE AA+ by

More information

SREI EQUIPMENT FINANCE LIMITED

SREI EQUIPMENT FINANCE LIMITED INVESTMENT RATIONALE SREI EQUIPMENT FINANCE LIMITED The issue offers effective yields ranging from 8.63 % to 9.77% depending up on the Category of Investor and the option applied for. Credit Rating of

More information

RURAL ELECTRIFICATION CORPORATION LIMITED (A Government of India Undertaking) HIGHLIGHTS OF TAX BENEFITS

RURAL ELECTRIFICATION CORPORATION LIMITED (A Government of India Undertaking) HIGHLIGHTS OF TAX BENEFITS RURAL ELECTRIFICATION CORPORATION LIMITED (A Government of India Undertaking) HIGHLIGHTS OF TAX BENEFITS Interest from these Bonds shall not be included in total income of any person as per provisions

More information

HOUSING AND URBAN DEVELOPMENT CORPORATION LIMITED Public Issue of Tax Free Bonds - FAQs

HOUSING AND URBAN DEVELOPMENT CORPORATION LIMITED Public Issue of Tax Free Bonds - FAQs HOUSING AND URBAN DEVELOPMENT CORPORATION LIMITED Public Issue of Tax Free Bonds - FAQs 1) Brief about HUDCO? HUDCO is a techno-financial institution engaged in the financing and promotion of housing and

More information

NTPC Limited Tax Free Bonds

NTPC Limited Tax Free Bonds NTPC Limited Tax Free Bonds Issue Opens Wednesday, September 23, 2015 Issue Closes Wednesday, September 30, 2015* Issuer NTPC Limited Issue of Bonds Public Issue by NTPC Limited ("NTPC" or "Issuer" or

More information

`IREDA Public Issue of Tax Free Bonds

`IREDA Public Issue of Tax Free Bonds HIGHLIGHTS OF TAX BENEFITS INDIAN RENEWABLE ENERGY DEVELOPMENT AGENCY LIMITED (A GOVERNMENT OF INDIA ENTERPRISE) Interest from these Bonds do not form part of total income as per provisions of Section

More information

NTPC LIMITED Public Issue Of Tax-Free Secured Redeemable Non-Convertible Bonds

NTPC LIMITED Public Issue Of Tax-Free Secured Redeemable Non-Convertible Bonds NTPC LIMITED Public Issue Of Tax-Free Secured Redeemable Non-Convertible Bonds *This Note is prepared based on the Prospectus for informative purpose only ISSUE HIGHLIGHTS Issue opens: Wednesday, September

More information

INDIA INFRASTRUCTURE FINANCE COMPANY LIMITED A wholly owned Government of India Undertaking

INDIA INFRASTRUCTURE FINANCE COMPANY LIMITED A wholly owned Government of India Undertaking HIGHLIGHTS OF TAX BENEFITS INDIA INFRASTRUCTURE FINANCE COMPANY LIMITED A wholly owned Government of India Undertaking Interest from these Bonds do not form part of total income as per provisions of Section

More information

Rural Electrification Corporation Limited (REC)

Rural Electrification Corporation Limited (REC) February 26, 2014 Rural Electrification Corporation Limited (REC) Tax Free Bond Issue Tranche II Summary: Rural Electrification Corporation Ltd (REC) has come out with its 2nd Tranche of public issue of

More information

FAQ OF SREI INFRASTRUCTURE FINANCE LIMITED -NCD Issue

FAQ OF SREI INFRASTRUCTURE FINANCE LIMITED -NCD Issue FAQ OF SREI INFRASTRUCTURE FINANCE LIMITED -NCD Issue Srei Infrastructure Finance Limited is, subject to market conditions and other considerations, proposing a public issue of up to `2000 million ( Base

More information

India Infoline Limited

India Infoline Limited Public Issue of Unsecured Subordinated Redeemable Non-Convertible Debentures of Mahindra & Mahindra Financial Services Limited Issue Period : July 10, 2017 July 28, 2017 INVESTMENT RATIONALE Mahindra &

More information

NTPC Public Issue of Tax Free Bonds

NTPC Public Issue of Tax Free Bonds HIGHLIGHTS OF TAX BENEFITS NTPC LIMITED (A Government of India Enterprise) Interest from these Bonds do not form part of total income as per provisions of Section 10 (15) (iv) (h) of Income Tax Act, 1961

More information

NCD - PUBLIC ISSUE NOTE

NCD - PUBLIC ISSUE NOTE Public Issue of Secured Redeemable Non-Convertible Debentures by Indiabulls Housing Finance Limited Brief Introduction of the company: It is one of the largest housing finance companies ("HFCs") in India.

More information

JM Financial Credit Solutions Limite d

JM Financial Credit Solutions Limite d JM FINANCIAL CREDIT SOLUTIONS LIMITED INVESTMENT RATIONALE The issue offers yields ranging from 9.24% to 9.74% depending up on the Category of Investor and the option applied for. The NCDs have been rated

More information

PUBLIC ISSUE OF SECURED AND UNSECURED NON-CONVERTIBLE DEBENTURES OF MUTHOOT FINANCE LIMITED of face value Rs. 1,000 upto ` 5,000 million

PUBLIC ISSUE OF SECURED AND UNSECURED NON-CONVERTIBLE DEBENTURES OF MUTHOOT FINANCE LIMITED of face value Rs. 1,000 upto ` 5,000 million PUBLIC ISSUE OF SECURED AND UNSECURED NON-CONVERTIBLE DEBENTURES OF MUTHOOT FINANCE LIMITED of face value Rs. 1,000 upto ` 5,000 million Issue Opening December 11, 2015 Issue Closing January 11, 2015*

More information

Issue related FAQs. Q4. Tell us more about the issuer company.

Issue related FAQs. Q4. Tell us more about the issuer company. Srei Infrastructure Finance Limited (the Company or the Issuer ) Public Issue of Secured, Redeemable Non-Convertible Debentures ( Debentures / NCDs ) for an amount upto ` 1,000 Million (the Issue ) Issue

More information

Note: Edelweiss Broking Ltd. is a Lead Broker to the issue; accordingly, this note is prepared based on the Prospectus for informative purpose only.

Note: Edelweiss Broking Ltd. is a Lead Broker to the issue; accordingly, this note is prepared based on the Prospectus for informative purpose only. Note: Edelweiss Broking Ltd. is a Lead Broker to the issue; accordingly, this note is prepared based on the Prospectus for informative purpose only. EDELWEISS RETAIL FINANCE LIMITED Public Issue Of Secured

More information

15-Oct Oct-2018

15-Oct Oct-2018 Public Issue of Secured Redeemable Non-Convertible Debentures Shriram Transport Finance Company Limited ------------------------------------------------------------------------------------------------------

More information

REC Public Issue of Tax Free Bonds

REC Public Issue of Tax Free Bonds HI GHLI GHTS OF TAX BENEFI TS RURAL ELECTRI FI CATI ON CORPORATI ON LI MI TED ( A Government of I ndia Undertaking) I nterest from these Bonds do not form part of Total I ncome as per provisions under

More information

ISSUE STRUCTURE. Strategies

ISSUE STRUCTURE. Strategies PUBLIC ISSUE OF SECURED AND UNSECURED NON-CONVERTIBLE DEBENTURES OF MUTHOOT FINANCE LIMITED of face value Rs. 1,000 upto ` 4,000 million Issue Opening November 19, 2014 Issue Closing December 18, 2014*

More information

ECL Finance Limited. 13-Dec Jan Public Issue of Secured Redeemable Non-Convertible Debentures. Issue Opens on.

ECL Finance Limited. 13-Dec Jan Public Issue of Secured Redeemable Non-Convertible Debentures. Issue Opens on. Public Issue of Secured Redeemable Non-Convertible Debentures ECL Finance Limited -------------------------------------------------------------------------------------------------------------------- Issue

More information

INDIABULLS HOUSING FINANCE LIMITED (IBHFL)

INDIABULLS HOUSING FINANCE LIMITED (IBHFL) INDIABULLS HOUSING FINANCE LIMITED (IBHFL) INVESTMENT RATIONALE The issue offers yields ranging from 8.60 % to 9.15% depending up on the Category of Investor and the option applied for. Opportunity to

More information

NTPC LIMITED Public Issue Of Tax-Free Secured Redeemable Non-Convertible Bonds

NTPC LIMITED Public Issue Of Tax-Free Secured Redeemable Non-Convertible Bonds Note: Edelweiss Broking Ltd. is a Sub Consortium Member to the issue; accordingly, this note is prepared based on the Prospectus for informative purpose only. NTPC LIMITED Public Issue Of Tax-Free Secured

More information

07-Jan Jan-2019

07-Jan Jan-2019 Public Issue of Secured Redeemable Non-Convertible Debentures ------------------------------------------------------------------------------------------------------ Issue Opens on 07-Jan-2019 ---------------------------------------------------

More information

Muthoot Finance Ltd. NCD Issue 12 th August, Key Highlights of the Company. Key Financials

Muthoot Finance Ltd. NCD Issue 12 th August, Key Highlights of the Company. Key Financials 12 th August, 2011 CMP: Rs. 195 52 Week High: 198 52 Week Low: 150 Market Statistics NSE MUTHOOTFIN BSE 533398 Face Value (Rs) 10 Equity Shares (Cr) 37.17 Market Cap (Rs Cr) 7245 Average Volume 7 Days

More information

SECTION VI ISSUE INFORMATION ISSUE STRUCTURE

SECTION VI ISSUE INFORMATION ISSUE STRUCTURE SECTION VI ISSUE INFORMATION ISSUE STRUCTURE Pursuant to the CBDT Notification, our Company is authorized to undertake the Issue. Our Company proposes to raise an amount of ` 400 crore with an option to

More information

IPO Flash July 28, 2017

IPO Flash July 28, 2017 July 28, 2017 Index Security and Intelligence Services (India) About the IPO Company background Key positives Key risks Valuations Financials Visit us at www.sharekhan.com IPO details: Issue open Issue

More information

TRACK RECORD OF THE PUBLIC ISSUES MANAGED BY THE MERCHANT BANKER IN THE LAST 3 FINANCIAL YEARS NATIONAL HIGHWAYS AUTHORITY OF INDIA

TRACK RECORD OF THE PUBLIC ISSUES MANAGED BY THE MERCHANT BANKER IN THE LAST 3 FINANCIAL YEARS NATIONAL HIGHWAYS AUTHORITY OF INDIA TRACK RECORD OF THE PUBLIC ISSUES MANAGED BY THE MERCHANT BANKER IN THE LAST 3 FINANCIAL YEARS NATIONAL HIGHWAYS AUTHORITY OF INDIA 1. Type of issue PUBLIC ISSUE BY NATIONAL HIGHWAYS AUTHORITY OF INDIA

More information

Muthoot Finance Limited Public Issue Of Secured Redeemable & Unsecured Redeemable Non-Convertible Debentures

Muthoot Finance Limited Public Issue Of Secured Redeemable & Unsecured Redeemable Non-Convertible Debentures Note: Edelweiss Broking Ltd. is a Lead Broker to the issue; accordingly, this note is prepared based on the Prospectus for informative purpose only. Issue Highlights Muthoot Finance Limited Public Issue

More information

Indiabulls Housing Finance Limited

Indiabulls Housing Finance Limited Indiabulls Housing Finance Limited Public Issue of Secured and Unsecured Redeemable Non-Convertible Debentures Issue Opens on September 15, 2016 Issue Closes on September 23, 2016* * Allocations will be

More information

Standard Chartered Indian Depository Receipts Frequently Asked Questions: Table of Contents

Standard Chartered Indian Depository Receipts Frequently Asked Questions: Table of Contents Standard Chartered Indian Depository Receipts Frequently Asked Questions: Table of Contents The IDR Facility... 1 Rights of IDR Holders... 2 Ownership and Trading of IDRs... 3 IDR Fees... 4 Other Questions

More information

Muthoot Finance Limited Public Issue Of Secured Redeemable & Unsecured Redeemable Non-Convertible Debentures

Muthoot Finance Limited Public Issue Of Secured Redeemable & Unsecured Redeemable Non-Convertible Debentures Note: Edelweiss Broking Ltd. is a Lead Broker to the issue; accordingly, this note is prepared based on the Prospectus for informative purpose only. Issue Highlights Muthoot Finance Limited Public Issue

More information

TATA CAPITAL FINANCIAL SERVICES LIMITED

TATA CAPITAL FINANCIAL SERVICES LIMITED TATA CAPITAL FINANCIAL SERVICES LIMITED INVESTMENT RATIONALE: The issue offers yields ranging from 8.70% to 9.10% depending up on the Category of Investor and the option applied for. Credit Rating of"

More information

NCD Public Issue Note

NCD Public Issue Note Public Issue of Secured and Unsecured Redeemable Non- Convertible Debentures of Rs. 15,000 Lacs with an option to retain over subscription upto Rs. 15,000 Lacs aggregating to Rs. 30,000 Lacs by MUTHOOTTU

More information

Housing and Urban Development Finance Corporation Limited (HUDCO) Public Issue of Tax Free Bonds FY2014, FAQs: Tranche - I

Housing and Urban Development Finance Corporation Limited (HUDCO) Public Issue of Tax Free Bonds FY2014, FAQs: Tranche - I Housing and Urban Development Finance Corporation Limited (HUDCO) Public Issue of Tax Free Bonds FY2014, FAQs: Tranche - I 1) Give a brief on Housing and Urban Development Finance Corporation Limited (HUDCO).

More information

General Information Document for Investing in Public Issues

General Information Document for Investing in Public Issues Last updated on, 2014 AMSONS APPARELS LIMITED (CIN: U74899DL2003PLC122266) Our Company was originally incorporated at New Delhi as Amsons Apparels Private Limited on 16 th September, 2003 under the provisions

More information

HDFC Retirement Savings Fund: FAQs

HDFC Retirement Savings Fund: FAQs HDFC Retirement Savings Fund: FAQs 1. What is HDFC Retirement Savings Fund? HDFC Retirement Savings Fund, an open ended notified tax savings cum pension scheme with no assured returns, is a mutual fund

More information

Issue 6 (dated 12 March 2014). Contact us at

Issue 6 (dated 12 March 2014). Contact us at In our last newsletter, we discussed social performance outlining the concept and elaborating the various tools in use for evaluating and benchmarking social performance. This month we present a step-by-step

More information

CanFin Homes. Turning over a new leaf CMP: Rs134. Reco: Buy

CanFin Homes. Turning over a new leaf CMP: Rs134. Reco: Buy Visit us at www.sharekhan.com December 04, 2012 Reco: Buy Turning over a new leaf CMP: Rs134 Price target: Market cap: Public & others 53% Company details 52-week high/low: NSE volume: (no. of shares)

More information

Frequently Asked Questions on New Fund Offer of BHARAT 22 ETF

Frequently Asked Questions on New Fund Offer of BHARAT 22 ETF Frequently Asked Questions on New Fund Offer of BHARAT 22 ETF 1. What is BHARAT 22 ETF? Government of India (GOI), as part of its disinvestment programme, approved the setting up of Exchange Traded Fund

More information

DEMATERIALISATION / REMATERIALISATION OF SHARES

DEMATERIALISATION / REMATERIALISATION OF SHARES FAQs DEMATERIALISATION / REMATERIALISATION OF SHARES DIVIDEND NOMINATION FACILITY TRANSFER /TRANSMISSION/TRANSPOSITION ETC. OF SHARES. LOSS OF SHARE CERTIFICATES MISCELLANEOUS DEMATERIALISATION / REMATERIALISATION

More information

RELIANCE MEDIAWORKS LIMITED. Reliance Land Private Limited. Reliance Capital Limited

RELIANCE MEDIAWORKS LIMITED. Reliance Land Private Limited. Reliance Capital Limited THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION This exit offer letter ( Exit Offer Letter ) is being sent to you as a Public Shareholder of Reliance Mediaworks Limited ( Company ). In

More information

Eagle Eye Equities. August 21, Index

Eagle Eye Equities. August 21, Index August 21, 2017 Index Punter s Call Looking Trendy Nifty Day Trader Smart Charts Momentum Swing CTFT (Carry Today For Tomorrow) Bank Nifty Bank Nifty Day Trader Day Trader s Hit List Visit us at www.sharekhan.com

More information

5. Type of Instrument Unsecured, subordinated, non-convertible, perpetual bonds which will qualify as Additional Tier 1 Capital (the Bonds ).

5. Type of Instrument Unsecured, subordinated, non-convertible, perpetual bonds which will qualify as Additional Tier 1 Capital (the Bonds ). Note: Any other holiday except Sunday has not been considered. Further, the bonds are perpetual in nature and do not carry redemption date. Coupon upto 10 (ten) years has been mentioned for illustrative

More information

SEBI (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2009 [Previously SEBI (Disclosure and Investors Protection) Guidelines 2000]

SEBI (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2009 [Previously SEBI (Disclosure and Investors Protection) Guidelines 2000] SEBI (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2009 [Previously SEBI (Disclosure and Investors Protection) Guidelines 2000] Payel Jain Academy of Financial Services Pvt. Ltd PUBLIC OFFER-

More information

KOSAMATTAM FINANCE LIMITED

KOSAMATTAM FINANCE LIMITED Public Issue of Secured Redeemable Non- Convertible Debentures of Rs. 15,000 Lakhs with an option to retain over subscription upto Rs. 15,000 Lakhs aggregating to Rs. 30,000 Lakhs by KOSAMATTAM FINANCE

More information

Sector Update > Q4FY2016 earnings preview

Sector Update > Q4FY2016 earnings preview IT sector update Sector Update > FY2016 earnings preview Soft quarter, cross-currency headwinds add to woes Visit us at www.sharekhan.com April 06, 2016 FY2016 result expectations Soft quarter, affected

More information

Listing Requirements Secondary Listing- Exclusively Listed on Regional Stock Exchange

Listing Requirements Secondary Listing- Exclusively Listed on Regional Stock Exchange Listing Requirements Secondary Listing- Exclusively Listed on Regional Stock Exchange Criteria for Secondary Listing The applicant Company whose securities that are proposed for secondary listing shall

More information

For Office Use Only Registered Office: Srei Equipment Finance Limited Vishwakarma, 86C Topsia Road (South), Kolkata 700046 Tel: (033) 61607734 Fax: (033) 6602 2455; Website: www.srei.com Date of Receipt

More information

(To be filled by Participant)

(To be filled by Participant) ANNEXURE J Participant Name, & DP Id (Pre-printed) APPLICATION FOR OPENING AN ACCOUNT (For Individuals Only) Client Id Date : (To be filled by Participant) I/We request you to open a depository account

More information

[EMBLEM OF THE GOVERNMENT OF INDIA] [Ministry of Steel, Government of India]

[EMBLEM OF THE GOVERNMENT OF INDIA] [Ministry of Steel, Government of India] NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN AND INTO THE UNITED STATES OR ANY OTHER JURISDICTIONS (AS DEFINED BELOW). SEE IMPORTANT INFORMATION BELOW. [EMBLEM OF THE GOVERNMENT OF INDIA] [Ministry

More information

Frequently Asked Questions on Further Fund Offer (FFO) BHARAT 22 ETF. An open-ended Exchange Traded Fund investing in S&P BSE Bharat 22 Index

Frequently Asked Questions on Further Fund Offer (FFO) BHARAT 22 ETF. An open-ended Exchange Traded Fund investing in S&P BSE Bharat 22 Index The information contained herein is solely for private circulation for reading/understanding of registered Advisors/ Distributors and should not be circulated to investors/prospective investors. Frequently

More information

Further, the Dividend income is tax free, if the company is liable to dividend distribution tax.

Further, the Dividend income is tax free, if the company is liable to dividend distribution tax. FAQs (Frequently Asked Questions) on RGESS Rajiv Gandhi Equity Savings Scheme (RGESS) 1. What is RGESS? Rajiv Gandhi Equity Savings Scheme (RGESS), is a tax saving scheme announced in the Union Budget

More information

OFFER PROCEDURE PART B. General Information Document for Investing in Public Issues

OFFER PROCEDURE PART B. General Information Document for Investing in Public Issues OFFER PROCEDURE PART B General Information Document for Investing in Public Issues This General Information Document highlights the key rules, processes and procedures applicable to public issues in accordance

More information

Notice pursuant to Section 110 of the Companies Act, 2013

Notice pursuant to Section 110 of the Companies Act, 2013 Power Reliance Power Limited CIN: L40101MH1995PLC084687 Registered Office : H Block, 1st Floor Dhirubhai Ambani Knowledge City Navi Mumbai 400 710 Tel: +91 22 3303 1000, Fax: +91 22 3303 3662 E-mail: reliancepower.investors@relianceada.com

More information

Sharekhan Top SIP Fund Picks February 14, 2018

Sharekhan Top SIP Fund Picks February 14, 2018 February 14, 2018 Index Top SIP Fund Picks Large-Cap Funds Mid & Small-Cap Funds Multi-Cap Funds Tax-saving Funds (ELSS) BNP Paribas Mutual Fund Equity schemes Fund Focus BNP Paribas Equity Fund Mutual

More information

APPLICATION FORM FOR SOVEREIGN GOLD BOND Series II

APPLICATION FORM FOR SOVEREIGN GOLD BOND Series II APPLICATION FORM FOR SOVEREIGN GOLD BOND 2017-18 Series II (Put wherever required) Name of Receiving Office Name of Branch: Mode of Subscription Cash Cheque / DD Electronic Transfer Grams of Gold Applied

More information

Others (15% of the issue size) Coupon 11.75% 12.00% 12.00% Effective yield 11.75% 12.00% 12.00%

Others (15% of the issue size) Coupon 11.75% 12.00% 12.00% Effective yield 11.75% 12.00% 12.00% Issuer Issue Recommendation Acceptance Rating AA /Stable by CRISIL and ICRA AA (stable) by ICRA Sector NBFC Source: Company data, Nirmal Bang Research Details of the issue NCD Options I II III Tenor (in

More information

JAKHARIA FABRIC LIMITED CIN: U17200MH2007PLC171939

JAKHARIA FABRIC LIMITED CIN: U17200MH2007PLC171939 JAKHARIA FABRIC LIMITED CIN: U17200MH2007PLC171939 Our Company was incorporated as Jakharia Fabric Private Limited on June 22, 2007, under the Companies Act, 1956 with the Registrar of Companies, Mumbai

More information

KARDA CONSTRUCTIONS LIMITED

KARDA CONSTRUCTIONS LIMITED KARDA CONSTRUCTIONS LIMITED Our Company was incorporated as Karda Constructions Private Limited on September 17, 2007 as a Private Limited Company under the Companies Act, 1956 with the Registrar of Companies,

More information

*The Company raised Rs. 10,000 crores in the Tranche 1 Issue.

*The Company raised Rs. 10,000 crores in the Tranche 1 Issue. TRACK RECORD OF THE PUBLIC ISSUES MAGED BY ICICI BANK LIMITED AS A MERCHANT BANKER IN CURRENT FINCIAL YEAR DEWAN HOUSING FINCE CORPORATION LIMITED 1. Type of Issue Public Issue by Dewan Housing Finance

More information

Arranger s Stamp / Direct

Arranger s Stamp / Direct Arranger s Stamp / Direct HOUSING AND URBAN DEVELOPMENT CORPORATION LIMITED HUDCO Bhawan, Core-7A, India Habitat Centre, Lodhi Road, New Delhi 110 003 Sl.No. (to be filled by Arranger) APPLICATION FORM

More information

Mutual Fund Snapshot

Mutual Fund Snapshot Mutual Fund Snapshot Procedures - Transaction Related How can one invest in a mutual fund? (Fresh Purchase) After deciding on the type of scheme, the investor will have to fill in the Application form,

More information

Frequently Asked Questions on Additional Offering Period

Frequently Asked Questions on Additional Offering Period Frequently Asked Questions on Additional Offering Period An open-ended Exchange Traded Fund investing in S&P BSE Bharat 22 Index PRODUCT 1. What is the launch date of Additional Offering Period for BHARAT

More information

MARINE ELECTRICALS (INDIA) LIMITED

MARINE ELECTRICALS (INDIA) LIMITED MARINE ELECTRICALS (INDIA) LIMITED Our Company was incorporated pursuant to a certificate of incorporation dated December 04, 2007 issued by the Registrar of Companies, Maharashtra Mumbai at Maharashtra

More information

Public Issue of Secured and Unsecured subordinated Non-Convertible Debentures

Public Issue of Secured and Unsecured subordinated Non-Convertible Debentures Public Issue of Secured and Unsecured subordinated Non-Convertible Debentures Issue Opens On: February 9, 2018 Issue Closes On: March 7, 2018 # Srei Infrastructure Finance Limited Registered Office: Vishwakarma,

More information

Note. Detailed Procedure for Listing of Privately Placed Debentures. Aman Nijhawan Niddhi Parmar

Note. Detailed Procedure for Listing of Privately Placed Debentures. Aman Nijhawan Niddhi Parmar Detailed Procedure for Listing of Privately Placed Debentures Aman Nijhawan aman@vinodkothari.com Niddhi Parmar mt@vinodkothari.com Vinod Kothari & Company Corporate Law Services Group corplaw@vinodkothari.com

More information

Know Your Client (KYC) Application Form (For Individuals Only)

Know Your Client (KYC) Application Form (For Individuals Only) INDIVIDUAL KYC FORM "Please note that the KYC Application Form and overleaf instructions should be printed on the same page (back to back). If printed separately then both the pages should be attached

More information

II. DEMAT ACCOUNT OPENING

II. DEMAT ACCOUNT OPENING II. DEMAT ACCOUNT OPENING 1. What are the benefits of opening a demat account for investors? A demat account has become a necessity for all categories of investors for the following: a. SEBI has made it

More information

Private Placement Offer Letter: Allahabad Bank

Private Placement Offer Letter: Allahabad Bank VIII. SUMMARY TERM SHEET Issuer Issue Size Option to retain oversubscription Objects of the Issue Instrument Nature and Status of Bonds Allahabad Bank (the Bank / the Issuer ) `1000/-crore Nil Augmenting

More information

Last Updated on November 14, 2018 vide SEBI Circular CIR/CFD/DIL/12/2013

Last Updated on November 14, 2018 vide SEBI Circular CIR/CFD/DIL/12/2013 Last Updated on November 14, 2018 vide SEBI Circular CIR/CFD/DIL/12/2013 SHUBHLAXMI JEWEL ART LIMITED Our Company was originally formed and registered as a partnership firm on July 30, 2013 at Bhavnagar,

More information

CHAPTER II - INITIAL PUBLIC OFFER ON MAIN BOARD

CHAPTER II - INITIAL PUBLIC OFFER ON MAIN BOARD CHAPTER II - INITIAL PUBLIC OFFER ON MAIN BOARD PART I: ELIGIBILITY REQUIREMENTS Reference date 4. Unless otherwise provided in this Chapter, an issuer making an initial public offer of specified securities

More information

TANVI FOODS (INDIA) LIMITED U15433TG2007PLC053406

TANVI FOODS (INDIA) LIMITED U15433TG2007PLC053406 TANVI FOODS (INDIA) LIMITED U15433TG2007PLC053406 Our Company was incorporated as Tanvi Foods Private Limited on March 30, 2007 under the Companies Act, 1956 with the Registrar of Companies, Hyderabad

More information

For Office Use Only Date of Receipt of Application / / 1 6 Registered Office: Vishwakarma, 86C Topsia Road (South), Kolkata 700046 Tel: (033) 61607734 Fax: (033) 6602 2455; Website: www.srei.com Date of

More information

Form A. APPLICATION FORM FOR SOVEREIGN GOLD BOND Series III (Put wherever required) Mode of Subscription Cash Cheque / DD Electronic Transfer

Form A. APPLICATION FORM FOR SOVEREIGN GOLD BOND Series III (Put wherever required) Mode of Subscription Cash Cheque / DD Electronic Transfer Form A APPLICATION FORM FOR SOVEREIGN GOLD BOND 2016-17 Series III (Put wherever required) Name of Receiving Office Name of Branch: Mode of Subscription Cash Cheque / DD Electronic Transfer Grams of Gold

More information

IFCI Financial Services Limited Application Form

IFCI Financial Services Limited Application Form APPLICATION FORM FOR SOVEREIGN GOLD BOND 2015-16 IFCI LTD APPLICATION FORM For Office use : GL Ref ID Kscope Tran. ID Issue opens on: Issue closes on: Broker code Channel Code Branch code (For YES Bank

More information

VALIANT ORGANICS LIMITED CIN: U24230MH2005PLC151348

VALIANT ORGANICS LIMITED CIN: U24230MH2005PLC151348 VALIANT ORGANICS LIMITED CIN: U24230MH2005PLC151348 Our Company was incorporated as Valiant Organics Private Limited on February 16, 2005 under the Companies Act, 1956 bearing Registration No. 151348 and

More information

Central Depository Services (India) Limited

Central Depository Services (India) Limited Central Depository Services (India) Limited Convenient Dependable Secure COMMUNIQUÉ TO DEPOSITORY PARTICIPANTS CDSL/OPS/DP/POLCY/4232 February 06, 2014 RAJIV GANDHI EQUITY SAVINGS SCHEME (RGESS), 2013

More information

SHRIRAM TRANSPORT FINANCE COMPANY LIMITED (STFC) FIXED DEPOSITS. FREQUENTLY ASKED QUESTIONS (FAQs)

SHRIRAM TRANSPORT FINANCE COMPANY LIMITED (STFC) FIXED DEPOSITS. FREQUENTLY ASKED QUESTIONS (FAQs) SHRIRAM TRANSPORT FINANCE COMPANY LIMITED (STFC) FIXED DEPOSITS FREQUENTLY ASKED QUESTIONS (FAQs) 1. What options are available while opening a Fixed Deposit ("FD") account with SHRIRAM TRANSPORT FINANCE

More information

APPLICATION FORM FOR SOVEREIGN GOLD BOND Series II- (Sept 16) INDIA INFOLINE LTD. Applicant(s) Detail (IN BLOCK LETTERS)

APPLICATION FORM FOR SOVEREIGN GOLD BOND Series II- (Sept 16) INDIA INFOLINE LTD. Applicant(s) Detail (IN BLOCK LETTERS) For Office use : YES Green ID: APPLICATION FORM FOR SOVEREIGN GOLD BOND 2016-17 Series II- (Sept 16) INDIA INFOLINE LTD Acknowledgement No. Page 1 of 7 4 digit Branch Code D D M M Y Y Running Sr No Broker

More information

REGULATORY FRAMEWORK GOVERNING INITIAL PUBLIC OFFERINGS IN INDIA

REGULATORY FRAMEWORK GOVERNING INITIAL PUBLIC OFFERINGS IN INDIA CHAPTER 4 REGULATORY FRAMEWORK GOVERNING INITIAL PUBLIC OFFERINGS IN INDIA This chapter presents the regulatory framework governing the issuance of IPOs through public offer, book building and online route.

More information