Hudco tax free bond issue oversubscribed 1.5 times

Invest In Tax Saving Mutual Funds Online

Download Tax Saving Mutual Fund Application Forms

Buy Gold Mutual Funds

Call 0 94 8300 8300 (India)

 

Issue set to close on Oct 14, gets Rs 1,076 cr bids already

STATE-OWNED Housing and Urban Development Corporation (Hudco) on Friday said its public issue of tax-free bonds has been oversubscribed about 1.5 times with company receiving bids worth Rs 1,076 crore so far.

The bond issue hit the market on September 17 and would close on October 14. The issue size is Rs 750 crore with an option to retain over-subscription up to Rs 4,809.20 crore.

Our bonds are doing well. We have crossed Rs 1,000 crore. The issue has been over-subscribed by 150 per cent so far against the issue size of Rs 750 crore. We hope to raise the entire amount of Rs 4,810 crore before issue closes.

The finance ministry has allowed Hudco to raise Rs 5,000 crore through bonds during this financial year, of which, Rs 190.8 crore has been raised last month through private placement to institutional investors.

The funds would be utilised to finance the government's housing and urban infrastructure projects.

For retail investors applying for bonds up to Rs 10 lakh, the coupon rate will be 8.39 per cent per annum for 10 years, 8.76 per cent for 15 years and 8.74 per cent for 20 years.

The bonds bear a coupon rate of 8.14 per cent per annum for 10 years, 8.51 per cent for 15 years and 8.49 per cent for 20 years for qualified institutional buyers (QIB), corporates and high net worth individuals.

This is the first public issue of tax-free bonds by Hudco in this financial year. The company had raised about Rs 2,400 crore during last financial year.

Hudco, a mini-ratna firm, is a techno-financial institution engaged in the financing and promotion of housing and urban infrastructure projects throughout India.

The company posted a net profit of Rs 700 crore over a total revenue of Rs 2,923 crore during last financial year. It had sanctioned projects worth Rs 23,000 crore and disbursed Rs 6,000 crore in financial year 2012-13. The issue size is Rs 750 cr with an option to retain over-subscription up to Rs 4,809.20 crore The finance ministry has allowed Hudco to raise Rs 5,000 cr through bonds during this financial year The bond issue hit the market on September 17 and would close on October 14

Happy Investing!!

We can help. Call 0 94 8300 8300 (India)

Leave your comment with mail ID and we will answer them

OR

You can write back to us at PrajnaCapital [at] Gmail [dot] Com

---------------------------------------------

Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.

Invest Tax Saving Mutual Funds Online

Tax Saving Mutual Funds Online

These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)

Download Tax Saving Mutual Fund Application Forms from all AMCs

Download Tax Saving Mutual Fund Applications

These Application Forms can be used for buying regular mutual funds also

Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )

1. ICICI Prudential Tax Plan Invest Online
2. HDFC TaxSaver Invest Online
3. DSP BlackRock Tax Saver Fund Invest Online
4. Reliance Tax Saver (ELSS) Fund Invest Online
5. Birla Sun Life Tax Relief '96 Invest Online
6. IDFC Tax Advantage (ELSS) Fund Invest Online
7. SBI Magnum Tax Gain Scheme 1993 Invest Online
8. Sundaram Tax Saver Invest Online
9. Edelweiss ELSS Invest Online

------------------

Best Performing Mutual Funds

1. Largecap Funds Invest Online
1. DSP BlackRock Top 100 Fund
2. ICICI Prudential Focused Blue Chip Fund
3. Birla Sun Life Front Line Equity Fund
2. Large and Midcap Funds Invest Online

1. ICICI Prudential Dynamic Plan
2. HDFC Top 200 Fund
3. UTI Dividend Yield Fund
2. Mid and SmallCap Funds Invest Online

1. Reliance Equity Opportunities Fund
2. DSP BlackRock Small & Midcap Fund
3. Sundaram Select Midcap
4. IDFC Premier Equity Fund
3. Small and MicroCap Funds Invest Online

1. DSP BlackRock MicroCap Fund
4. Sector Funds Invest Online

1. Reliance Banking Fund
2. Reliance Banking Fund
5. Tax Saver MutualFunds Invest Online
1. ICICI Prudential Tax Plan
2. HDFC Taxsaver
3. DSP BlackRock Tax Saver Fund
4. Reliance Tax Saver (ELSS) Fund
6. Gold Mutual Funds Invest Online

1. Relaince Gold Savings Fund
2. ICICI Prudential Regular Gold Savings Fund
3. HDFC Gold Fund