Sunday, September 18, 2011

IFCI Tier II Series 3 NCD - Analysis, Recommendation, Review

IFCI has come out with another series of Tier II bonds. These are also unsecured NCDs just like the last series and will list on BSE. The face value of one bond is Rs 10000.

The issue opens on 5 September and closes on 10 October, 2011.

There are 4 options:
Option 1: 10 years bonds, interest rate of 10.60% and interest payment cumulative. Only retail investors putting less than Rs 5 lakhs are eligible for this option. There is a callback option after 7 years.
Option 2: 10 year bonds, interest rate of 10.60% and interest payment annual. Only retail investors putting less than Rs 5 lakhs are eligible for this option. There is a callback option after 7 years.
Option 3: 10 year bonds, interest rate of 10.50% and interest payment annual. All investors are eligible for this option. There is a callback option after 7 years.
Option 4: 15 year bonds, interest rate of 10.75% and interest payment annual. All investors are eligible for this option. There is a callback option after 10 years.


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