IIFL Public Issue of Secured Redeemable NCDs opens on September 17, 2013 with 12% yield

India Infoline Finance Limited is proposed to issue secured “ Non Convertible Debentures” with  an option of monthly and annual interest payment and the yield works out to 12.68% p.a. for the monthly interest option.

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The face value of each NCD is Rs 1,000 and minimum application is Rs 5,000 or five NCDs. The NCDs have an investment maturity tenure of three years and five years. For someone in the highest tax bracket, the 12% coupon rate works out to approximately 8.4% post-tax. The post tax return  for an investor in the 20% tax bracket is around 9.6% and it is 10.8% for someone in the 10% tax bracket. It has a “Care AA” rating from CARE.

Specific Term of Issue

Options I II III IV
Tenor 3 years 3 years 5 years 5 years
Coupon rate % 12 12 12 12
Effective yield
12.68 12 12.68 12
Interest Frequency
Monthly Annually Monthly Annually

Those wish to lock the fund for 3-5 years for a post tax yield of 8.4% per annum can invest. No TDS, if the debentures are held in demat. Minimum investment required is Rs.5000 (5 bonds).

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