IRFC, the financial arm of Indian Railways, is raising ₹4,532 crore through the issue, which has been assigned the highest AAA rating by credit rating agencies.
40% of the issue is reserved for retail investors (those who invest up to ₹10 lakh).
The issue closes on December 21,2015 but could be closed earlier if fully subscribed.
The minimum investment is ₹5,000 (five bonds of ₹1,000 each).
IRFC is offering retail investors 7.32 % annually on the 10-year
bonds, 7.53 % on the 15-year bonds and 7.5 % on the
20-year bonds.
Other investors will get 0.25 % points less
across tenures.
Interest will be paid out annually and is exempt from
tax
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