IIFCL launches Tax Saving Infra Bonds

The State-owned  India Infrastructure Finance Company (IIFCL) has launched today the sale of  Infrastructure Bonds  having benefits under section 80CCF of the Income Tax Act.     The issue closes on March 4, 2011.
  
These bonds, which carry a tax deduction of up to Rs 20,000, will be issued at a face value of Rs 1,000 and carry interest of 8.15% for the 10-year series and 8.3% for the 15-year series.


The Bonds have been assigned a credit rating of “AAA/Stable” by CRISIL and “CARE AAA” by CARE indicating ‘Highest Safety’ with regard to timely payment of interest and repayment of principal amount of the bonds.

The Lead Managers to the Issue are ICICI Securities Limited, SBI Capital Markets Limited, A.K. Capital Services Limited, Bajaj Capital Limited, Enam Securities Private Limited, Karvy Investor Services Limited, RR Investors Capital Services (Private) Limited and YES Bank Limited

http://www.iifcl.org/

To know more about infrastructure bonds :
http://makemyinvestments.blogspot.com/2011/01/infrastructure-bonds-new-avenue-to-save.html