IDFC Infrastructure Bonds FAQ

by Manshu on October 12, 2010

in Fixed Deposits

Also read about the REC Infrastructure bonds here or the IDFC Infrastructure Bonds Tranche 2 here.

The IDFC Infrastructure Bond post has thrown up some interesting questions from readers which were not part of the post itself, and while I am replying to them in comments – I thought I’d do a fresh post with 5 questions that I thought deserved a post of their own.

1. Is opening a demat account compulsory for investing in the IDFC Infrastructure bonds?

No, it is not.

When this scheme opened there was just the option to invest in it if you had a demat account, but some changes have been made (pdf) and opening a demat account is not compulsory now. You can buy them in physical form also. Their website tells you how to do this.

You can also subscribe to the Bonds in physical form by following these simple steps:

  • Don’t fill up the demat details in the application form
  • Compulsorily provide the following three documents with the application form:
    • Self-attested copy of the PAN card;
    • Self-attested copy of a cancelled cheque of the bank account to which the amounts pertaining to payment of refunds, interest and redemption, as applicable, should be credited.
    • Self-attested copy of the proof of residence. Any of the following documents shall be considered as a verifiable proof of residence:
      • Ration card issued by the Government of India; or
      • Valid driving license issued by any transport authority of the Republic of India; or
      • Electricity bill (not older than 3 months); or
      • Landline telephone bill (not older than 3 months); or
      • Valid passport issued by the Government of India; or
      • Voter’s Identity Card issued by the Government of India; or
      • Passbook or latest bank statement issued by a bank operating in India; or
      • Leave and license agreement or agreement for sale or rent agreement or flat maintenance bill; or
  • Letter from a recognized public authority or public servant verifying the identity and residence of the Applicant.
  • 2. Is the interest earned from the IDFC Infrastructure bond tax-free?

    While IDFC Infrastructure bonds may not attract TDS – the interest itself is not tax – free. It’s only the Rs. 20,000 you get reduced from your taxable salary that helps save tax.

    3. Has the closing date to invest in IDFC Bonds extended?

    Yes, the closing date has been extended from 18th October to 22nd October.

    4. When do the bonds start trading in the stock exchange?

    After the initial lock – in period of 5 years is over, the bonds will list on the NSE and BSE, and start trading there.

    5. Which option has the highest yield?

    Yield table from the website. Now keep in mind this is just the yield, the lock in periods differ between various series, and that needs to be taken into account while making your decision, however since my earlier post didn’t have this yield table I am including it here.

    IDFC Infrastructure Bond

    IDFC Infrastructure Bond

    Click here to read the earlier review of the IDFC Infrastructure Bond.

    { 98 comments… read them below or add one }

    Radhika October 13, 2010 at 11:39 pm

    Hi Manshu,

    Thanks for posting much needed information. Looking at the yield table, it appears like option 3 earns better yield. But how does one really choose which option is the best? I asked the HDFC rep who was issuing the application forms, but he didn’t have any convincing answer.

    Reply

    Manshu October 14, 2010 at 3:44 am

    Here’s how I would go thinking about it. The biggest benefit of this scheme is the tax that it saves.

    Given that this is the biggest benefit, and the interest rate itself is comparable to other schemes, I’d like to get my principal back earliest so that if interest rates rise, I’m able to invest in something else. So, given that line of thought I myself will be okay forgoing the extra 0.5% in favor of getting my money back 5 years earlier. That means going for the series that doesn’t have the ten year lock in period.

    The next question is whether I’d like to get interest paid every year or get the whole thing compounded annually and paid a bigger sum at the end. Personally, I’d prefer to get the interest annually to have the option to invest somewhere else or just to get an edge over the inflation which is more than 7.5%.

    Given all this, if I had to invest here, I would choose the one option that gets me my money back fastest as well as pays out interest annually. That will be my thought process.

    If anyone else has any other ideas then please share, and let’s hear about it.

    Reply

    Radhika October 14, 2010 at 8:18 am

    Thank you so much Manshu. This detailed explaination makes it easier for investors to choose the right option.

    Reply

    Ajay October 20, 2010 at 10:48 pm

    Here you have talked about the buyback from the company. However the bonds are supposed to be traded on the exchanges at the end of the lockin period of 5 years. In such a situation won’t the series 1 bonds become more lucrative or return oriented given that they have:
    a) 8% coupon rate
    b) They can be sold at the end of the 5 year lockin.
    c) If the interest rate is lower at the time of lockin tenure(5yrs) then they sell at a premium.
    c)In case the interest rate increases(least likely) then one might have to keep them for the whole tenure or sell at a discount.

    Please throw more light on this and revise your suggestion if any.

    Reply

    Manshu October 21, 2010 at 3:11 am

    I am not familiar with how bond listings actually work, so I’m unable to say anything about that. In SBI thread there are two schools of thought – one that says the SBI bonds should list at a small premium of ~2% and another that says the premium should be ~10%, so I see that there are differing opinions on this, as you can probably expect with nature of these things. Given all that, I don’t know what to make of listing.

    Reply

    vivek October 15, 2010 at 8:07 am

    how does the yield for the annual interest payment scheme is more than the cumulative payment scheme, can u please do the calculation……

    Reply

    Manshu October 15, 2010 at 4:12 pm

    Okay, let me see if I can explain this now, it kind of scares me actually….but here goes.

    Let’s first take the example of Series 4 for a person with a 20.6% tax rate who invested 5,000. The key thing here is that since you get your taxable income reduced by 5,000 using these bonds, and your tax slab is 20.6%, your purchase price goes down.

    Here is how that looks like:

    Investment 5000
    Reduction in taxable income: 5000
    Tax Saved @ 20.6% 1030
    Net Investment 3970
    Buyback amount after 5 years 7180
    Compounded Annual Growth Rate 12.58%

    I calculated CAGR using the calculator on my site that you can use here:
    http://www.onemint.com/2008/10/09/cagr-calculator/

    So, this was the easy one and you saw how yield of 12.58% came. Now let’s try Series 3 which is slightly more tricky.

    In this case you get interest paid out to you every year, so you use a concept called Yield To Maturity (YTM). This formula takes into account the discounted cash flow, effectively seeing how much money you will get in total, and what it’s worth today. It also assumes that whatever money you get will be reinvested with the coupon rate or 7.5% in this case.

    Plug the Series 3 numbers in the YTM calculator found on this link http://www.moneychimp.com/calculator/popup/calculator.htm?mode=calc_bondytm
    you will see that it gives you a YTM of 13.417% which is what it becomes worth.

    The Current Price is 3970, Par Value 5000, Coupon 7.5%, Years to Maturity 5.

    I don’t know how much sense I made and you can read more about YTM and IRR elsewhere to get a better understand. If I myself go any deeper then I’ll have nightmares which I am trying to avoid 🙂

    If anyone else has a better way of explaining or thinks I’ve made a mistake somewhere then please let us know.

    Reply

    Satish Sutaria October 16, 2010 at 7:16 pm

    Thank you for detailed info on series 2 & 3 bonds. What are series 3 & series 4 provisions? I need to decide by Monday which series to invest into. So can someone please guide me?

    Reply

    Manshu October 17, 2010 at 4:23 am

    The Series 3 & 4 provisions are that both of them have the buyback facility so you can sell your bonds after 5 years, and don’t have to keep them for ten years.

    Series 3 will pay you out an interest per annum, while Series 4 will not pay an annual but on redemption – you will get 7,180 for each bond. As opposed to this Series 3 will be redeemed at Rs. 5,000 itself (as interest gets paid every year).

    The yield is higher in Series 3, but one of the assumptions in calculating this higher yield is that you will re-invest the interest amount earned by you in an instrument that pays you 7.5% interest.

    Tax will of course be saved in all series, so you can think about all this, and make your decision.

    Reply

    santosh singh October 18, 2010 at 12:39 am

    i want to sell the IDFC injfra bonds on commision basis to my cliental group. please issue me neccesary guidilines in this regards. or to whom i may contact for the issueance of license

    Reply

    KESHAV October 19, 2010 at 10:31 pm

    Hi,

    Will the IDFC issue any bond certificate to me, if I apply thru online brokerages viz sharekhan, ICICI direct etc?

    Reply

    Manshu October 20, 2010 at 12:55 pm

    I don’t think you’ll get a physical certificate if you invest online Keshav.

    Reply

    Sanket November 15, 2010 at 11:05 pm

    But some form of proof of investment should be there right? after all we have to show it to IT/Fin Dept.

    Reply

    Manshu November 16, 2010 at 8:07 am

    Yes Sanket – you are right, my initial impression was that there’d be no certificate, but people have told me that ICICI Direct has conveyed to them about sending a physical certificate, and I think others will do it as well.

    So, I stand corrected, and I am sorry about my earlier comment stating there won’t be a physical certificate.

    Reply

    sunil prabhakar October 20, 2010 at 12:17 am

    Dear Manshu ji,

    What is buyback facility in IDFC Infrastrucsture Bonds? Can I invest Rs.20,000/- in series 4 or series 3? Is it better to invest more than Rs.20,000/- in these bonds?

    Reply

    Manshu October 20, 2010 at 12:55 pm

    Dear Sunil,

    Series 3 & 4 have a buyback after 5 years. I’d say that since the big benefit of investing in this type of bond is getting the extra tax saving, there isn’t that much merit in investing more than 20k.

    As for Series 3 or 4, one gets you interest paid out every year, while the other gives you a slightly larger amount at the end without paying anything in between so you can evaluate based on that.

    Reply

    Anuj October 20, 2010 at 9:23 am

    Hi,
    My question are
    1. Can we opt for nominee or not ? If yes then how.
    2. What is the mean of More than one applicant..

    Thanks,
    Anuj

    Reply

    Manshu October 20, 2010 at 1:08 pm

    There is a facility for nomination Anuj, but I don’t know about the rest of your questions. Sorry, I hope someone else can answer.

    Reply

    sunil prabhakar October 21, 2010 at 3:35 am

    Manshu Ji,

    If I apply L&T Infrastructure/IDFC Bonds in the name of my wife and make the payment from my side, shall my wife will get the tax benefit U/S 80CCF ?

    Reply

    Manshu October 21, 2010 at 8:38 am

    Dear Sunil,

    As far as I know the bondholder should get the tax benefit, so that way I’d expect your wife to get the deduction.

    If anyone knows any different then please leave a comment.

    Reply

    Jeffrey Samuel October 23, 2010 at 10:48 am

    Dear Sir / Madam,

    As per information
    You can buy them in physical form also.
    You can also subscribe to the Bonds in physical form by following these simple steps:
    Self-attested copy of a cancelled cheque of the bank account to which the amounts pertaining to payment of refunds, interest and redemption, as applicable, should be credited.

    However I was told you have to submit original cancelled cheque along with application form and not self attested copy of cancelled cheque. Without original cancelled cheque your application will be rejected.

    Kindly advice was this correct.
    Jeffrey

    Reply

    Manshu October 23, 2010 at 12:58 pm

    Dear Jeffrey,

    The issue got over on the 22nd, but based on my knowledge they do require original canceled checks, and can’t do with an attested copy. If anyone else has been able to apply with an attested copy then please leave a comment and let us know.

    Reply

    praveen October 26, 2010 at 9:28 pm

    I have applied IDFC bonds thru icici direct online. Will i get any physical copy of the bond from IDFC, if not what document i need to use for tax saving proof purposes??

    Reply

    Ajay October 27, 2010 at 7:18 am

    I had the same query. I called Icici to know that “one should be receiving the physical bond certificates on approval which I should be using for tax purpose. This should take some 4 weeks after cutoff date. ”

    Now, like you, I am also wondering that the physical would have been better that the receipt would have been awailable immediately. Let us all know if you heard something else from them.

    Reply

    Manshu October 27, 2010 at 8:11 am

    Thanks for replying Ajay. I originally thought that they wouldn’t send a certificate based on what I read but if ICICI Direct told you they are going to send you a certificate then that must be the case.

    Wouldn’t buying online make it easier to hold and sell the funds at a later date though? The need for the proof is still not there for another 5 or 6 months so as long as they don’t goof up sending it – it’s okay.

    Reply

    Uday November 4, 2010 at 6:08 pm

    I wanted to purchase infra structure bonds of Land T or any other firm, bur last date for L and T infra structure bond is over. Will it again launch Infra structure bond or will any other firm launch the same for this financial year?

    Reply

    Manshu November 4, 2010 at 6:15 pm

    Yes Uday – the IDFC issue didn’t get a good response, and they have said that they will issue these bonds again before March 2011. You might even get a higher rate.

    Reply

    Ams November 11, 2010 at 8:46 pm

    Yes you are right. Also there are new companies like LIC and SBI coming up with the bond issues. So definately there are lot of options and a lot of time ( 5 months) so there would be more issues to come.

    Reply

    Pradeep November 6, 2010 at 1:46 am

    When these bonds will appear of Demat A/c, I have applied and still not received?

    Reply

    Nageswara November 8, 2010 at 9:19 am

    Mine also, the same case

    Reply

    Ajay November 8, 2010 at 10:12 am

    Nothing in ICICIDIRECT account yet….. If anybody has got, please update.

    Reply

    Sandeep November 8, 2010 at 10:52 pm

    I have a few simple queries:
    1. Do I need to pay money every year in order to get tax savings every year on IDFC bonds or is it just one time affair that closed on 22 Oct 2010?
    2. Do I get a physical Bond certificate from Sharekhan or IDFC for issuance of bond to me or will it reflect in my online demat account?
    3. In case I dont get a physical (Paper) bond, how do I claim tax savings?

    Thanks in Advance

    Reply

    Manshu November 9, 2010 at 4:23 am

    Hi Sandeep,

    1. It’s just one time for this year.
    2 & 3. You will see it online in your demat account, and folks who’ve called ICICI Direct for tax proof have been told that they’ll get a physical cert. that can be used, so you can check with Sharekhan.

    Reply

    Sandeep November 9, 2010 at 7:33 am

    Hi Manshu,
    Thanks for the info.

    Reply

    Manshu November 9, 2010 at 8:08 am

    Thanks a lot for replying Sandeep, and if possible, could you please leave a comment here when you receive the physical certificate.

    There are quite a few people here waiting for it, so that way we will know that people have started receiving it.

    Reply

    DIXON RAJA November 9, 2010 at 8:09 am

    After how much day will the bond come

    Reply

    sekhar November 11, 2010 at 12:25 am

    More than twentydays have passed since the closing of the infra bond. When is it going to be allotted and why is this delay

    Reply

    Vikram November 11, 2010 at 6:53 pm

    Hi,
    I applied for IDFC bond thorugh ICICI direct. But did not get any single share. Infact order histiory says that share allocated=0. Was the process for bond same as IPO.
    Please advice if I will be getting bonds or not.

    Reply

    Manshu November 12, 2010 at 4:51 am

    Hi Vikram,

    The process for allotting IPO and bonds are different, and in the case of these bonds the allotment hasn’t been done for anyone yet, so you are not the only one. When the dates are declared or allotment is done I will update the post or leave a comment here, and request others who applied for it to leave a comment when they see allotment in their accounts, so that everyone else knows. Thanks!

    Reply

    BHUPENDRA C SHAH November 11, 2010 at 8:25 pm

    whether allotment of bonds completed ? IF NOT, WHEN WILL BE ALLOTMENT DONE ?
    I HAD NOT RECEIVED BONDS IN MY D-MAT ACCOUNT

    Reply

    Manshu November 12, 2010 at 4:50 am

    No one has reported that they have got the bond yet, so you’re not alone. I don’t think there has been any news on when the allotment will be done, and when they declare the dates I’ll update this or when someone receives these bonds they will probably leave a comment here, and everyone will know.

    Reply

    Loney November 13, 2010 at 7:32 am

    IDFC infrastructure bonds have been allotted to demat account today 13/11/2010. The deemed date of allottment is 12/11/2010 and it has been locked-in till 12/11/2015.

    Reply

    Manshu November 13, 2010 at 7:35 am

    Thanks for letting us know Loney! Really appreciate it; a lot of people were concerned about not seeing the bonds allotted so this info will come handy.

    Reply

    shatadru November 14, 2010 at 8:29 am

    i have applied for Rs 20K bond by cheque.The money has been debited but demat account has not been credited with bond.can u explain?

    Reply

    Manshu November 15, 2010 at 9:58 am

    Shatadru, not everyone has gotten the bonds yet, so you might have to wait a bit. As far as I know there isn’t any communication about when they will credit it, so everything is guesswork as of now.

    Reply

    Ajay November 14, 2010 at 9:19 am

    Loney seems to be the only guy receiving. I applied in ICICIDIRECT but don’t see the bonds.
    -Ajay

    Reply

    Manshu November 15, 2010 at 9:57 am

    I guess they’re not appearing at the same time for everyone, and there is some process where they are getting allocated gradually to people who applied. Let’s hope everyone gets this quickly Ajay.

    Reply

    Manshu November 16, 2010 at 10:25 am

    Ajay could you please check now and see if you got it because Subhro used ICICI Direct and he seems to have gotten the bonds now?

    Reply

    Logu November 14, 2010 at 9:24 pm

    I have also applied for the bonds but still I didn’t get those in my demat account. When can I expect that to be alloted to me?

    Reply

    Manshu November 15, 2010 at 9:56 am

    I don’t think anyone knows the exact date because it’s not been communicated but based on the fact that people have started seeing the security in their demat account I’d expect it to appear this month.

    Reply

    Satish November 15, 2010 at 1:02 am

    I received the SMS from NSDL today (15/11) informing credit of IDFC bonds to my demat account on 13/11. I am not yet seeing the bonds in my demat (using IIFL), but I think they will be there in a few days.

    Reply

    Manshu November 15, 2010 at 9:55 am

    Thanks for the info Satish.

    Reply

    Satish M November 17, 2010 at 9:57 am

    I see the IDFC bonds listed online under DP Holdings (IIFL)
    INE043D07260 IDFC LTD 4.00

    Reply

    basha November 15, 2010 at 9:01 am

    I had applied through HDFC, they had given me the acknowledgement copy of the form, May i know when i will get the IDFC Bond Certificate, Will it come through post?

    Reply

    Manshu November 15, 2010 at 9:53 am

    ICICI Direct has told one of our readers that they will send the certificate so I’d expect HDFC to do that as well. Please call them and check with them Basha, as that would give you the most concrete answer.

    Reply

    NAGESWARA November 15, 2010 at 11:04 pm

    I can see that IDFC bonds (4 in number) are credited to my demat account. I have checked this online (reliancemoney). I don’t know when/will I get physical bond copies or anything such for claiming exemption

    Reply

    Manshu November 16, 2010 at 7:39 am

    Thanks for the info Nageswara – you’re one of the lucky ones to get the bonds already 🙂 Appreciate your comment.

    Reply

    Naveen November 19, 2010 at 1:48 am

    Nageswar… Can you please tell me where did you see them under Reliance Money… was it under holdings or any other place

    Reply

    Sandeep November 15, 2010 at 11:41 pm

    Hello ALL,
    I got an SMS stating that I have received 4 bonds of IDFC. I am waiting to see when it will reflect in my DEMAT (sharekhan) account. I am sure it will be done soon. Will keep u all updated.
    Cheers.

    Reply

    Ashutosh November 16, 2010 at 1:51 am

    Thanks Sandeep,

    Please do let us know when it appears in sharekhan and under what screen. I have applied through sharekhan, but got no sms.

    Thanks
    Ashutosh

    Reply

    Sangram November 16, 2010 at 5:14 am

    Ashutosh,

    I too got an SMS yesterday that I have received the bonds. Do note that the SMS came from NSDL and not Sharekhan, So i don’t think that Sharekhan will send any SMS. I don’t see them in my demat account yet. I will post here when they hit my demat.
    BTW, does anyone know if we will get any proof of investment from sharekhan. Some folks here have mentioned ICICIdirect will provide some proof, anything on Sharekhan

    Reply

    Prabahar K November 19, 2010 at 8:37 am

    Go to Reports->Transaction Reports->DP Tab->DP Statement of Holding. Click Show button against your client ID.

    Reply

    Manshu November 16, 2010 at 7:36 am

    Thank you for taking the time out to post this message here and let everyone know Sandeep!

    Reply

    vivek November 16, 2010 at 2:32 am

    I have applied for IDFC infra bonds but i cannot see them in my IIFL demat account. when I contacted the IndiaInfoline they have no clue. The amount has been deducted from my account. i am worried. Can anyone suggest what should be done. thanks.

    Reply

    Manshu November 16, 2010 at 7:32 am

    As you might have noticed a lot of people haven’t got the bonds in their demat yet, so best thing is to wait and watch. Don’t get worried yet.

    Reply

    Subhro November 16, 2010 at 10:14 am

    For people who are wondering why they can not see the bonds even after receiving the SMS, I have an update. I applied through ICICI Direct. My ICICI Bank account is linked with the ICICI Direct trading account. I can see the bonds credited in demat section of the bank account.

    Reply

    Manshu November 16, 2010 at 10:18 am

    Thanks Subhro, this will be helpful for guys here. When was the first time you started seeing them – today?

    Reply

    Ajay November 16, 2010 at 10:39 am

    Have received the bonds in the demat account finally :()) however still to receive the receipt or physical certificates for claiming Tax cut.

    Reply

    Manshu November 16, 2010 at 10:47 am

    Awesome man – one down – another to go! 🙂

    Reply

    Amrendra Kumar November 16, 2010 at 11:40 am

    Applied through ICICI direct….Yet to get the bond allocated.

    Reply

    venkat c choudary November 16, 2010 at 8:52 pm

    my bonds also not reflecting in my demat

    Reply

    sudeep banerjee November 16, 2010 at 9:15 pm

    Hi
    If any body has been allocated the bonds (through icicidirect), can you please tell me under which screen, are the bonds showing?

    Reply

    Ashutosh November 16, 2010 at 10:35 pm

    Hi Boarders,

    You can see IDFC bond allotment status to your sharekhan account itself via “Reports” => “Transaction Report” => DP => NSDL Holdings => Show.

    But I hope they give us a Physical certificate that can be used for tax purposes.

    Thanks
    Ashutosh

    Reply

    Shrish November 16, 2010 at 11:00 pm

    Hey Subhro,
    Where do you see those bonds in demat. I applied through icici direct and i dont see it till date. I am looking under section IPO –> Demat Allocation –> Allocate.

    Reply

    Suhail November 16, 2010 at 11:59 pm

    Hi,

    Could you please let us know how to see the IDFC allotted bonds in ICICIDIRECT.
    Under which screen?

    Reply

    Ajay November 17, 2010 at 7:17 am

    For the clients of ICICIDIRECT, the bonds will appear in your DEMAT account at the icicibank login to your account. So check in ICICIBANK.com.
    However you need documents for tax cut purpose. Ask IDFC or write to idfc at the following address:

    Investor Contact

    The Company Secretary
    Infrastructure Development Finance Company Limited
    Naman Chambers, 6th Floor,
    C-32, G-Block,
    Bandra Kurla Complex,
    Bandra (East), Mumbai – 400 051

    022 – 42222016/ 42222000

    022 – 26540354

    mahendra@idfc.com
    KARISMA@karvy.com

    Reply

    Manshu November 17, 2010 at 7:56 am

    Thanks a lot Ajay! This is certainly helpful!

    Do people need to write in to get the tax proof? Wouldn’t this be sent automatically, or are you taking the better safe than sorry approach?

    Reply

    Ajay November 17, 2010 at 8:09 am

    You are right: “Better safe than sorry “.
    In fact they should have send the docs by now, but no one has received yet. So please write to let them know that we need the receipts…… :))

    Reply

    Manshu November 17, 2010 at 10:30 am

    That’s a clever idea 🙂

    Reply

    Arun November 18, 2010 at 5:08 am

    I purchased the bonds throguh JM Financial and have not received any communication as of now regarding the certificated. I also tried the get informmation by sending them email at mahendra@idfc.com, KARISMA@karvy.com but there is no response.

    Reply

    Sangram November 18, 2010 at 10:00 am

    Guys,

    For Sharekhan demat holders, you will not see the bonds in the DP/SR report where you see the usual demat held scrips. You will see it in NSDL holdings report as Ashutosh correctly pointed out.
    I also checked with Sharekhan and they are not going to give any documents for tax proof. They are advicing to use the NSDL holdings report as tax proof.
    Will IDFC give for sure? Can someone confirm?

    Reply

    Hari November 18, 2010 at 9:01 pm

    Hi,

    Let me know if anyone has received the IDFC bonds in IDBI DMAT account, I’m still waiting 🙁

    Reply

    Suman November 19, 2010 at 12:26 am

    Had applied to the IDFC Tax Free bonds through SMC in the physical Form, but yet to receive any communication. Could any one update if anyone applying in the Physical form has recived the communication.

    Thanks…

    Reply

    saikat November 19, 2010 at 11:14 am

    Had applied to the IDFC Tax Free bonds through Enam-Axis Bank in the physical Form, but yet to receive any communication. Can anyone give a clue where I can get the Status

    Reply

    MRS. S. LOKAMATHA November 19, 2010 at 11:38 pm

    I HAD APPLIED FOR 4 IDFC INFRA BONDS ON THE BASIS OF JOINT D MAT ACCOUNT WITH MY HUSBAND WHO ALSO APPLIED FOR THE SAME NUMBER.
    WHILE 4 NOS. BONDS WERE CREDITED TO OUR D MAT ACCOUNT ON 13.11.10
    THE STATUS OF THE OTHER 4 IS NOT KNOWN. IT IS PRESUMED THAT MY APPLICATION MIGHT NOT HAVE BEEN CONSIDERED BEING SECONDE NAME IN THE DEMAT ACCOUNT. IN WHICH CASE EITHER I SHOULD GET THE PHYSICAL CERTIFICATE OR REFUND OF MONEY. MY HUSBAND HAS ALSO NOT RECEIVED ANY COMMUNICATION FOR CLAIMING TAX EXEMPTION. PLEASE LET ME KNOW THE NEXT COURSE OF ACTION I HAVE TO TAKE WITH FULL PARTICULARS OF ADDRESS, PHONE NO, E MAIL OF IDFC CONCERNED DEPARTMENT SINCE MY MONEY IS LYING IDLE. PLEASE ALSO LET ME KNOW WHETHER FEW MORE BONDS ARE IN THE PIPELINE LIKE LIC, ETC.
    I HAVE MISPLACED MY ACKNOWLEDGEMENT OF APPLICATION OF THE IDFC BONDS AND SEARCHING FOR THE SAME.

    Reply

    Manshu November 20, 2010 at 6:16 am

    Dear Mrs. Lokamatha,

    I’d say the next course of action will be to contact the agent / broker who sold you this and find from them if there was anything wrong with the form because of which your application has been rejected, and when you will receive the refund.

    There will be future issues from IDFC and others of the same type of bonds.

    Reply

    happy November 20, 2010 at 11:21 am

    had applied thru HDFC, yet to receive any certs 🙁 . the bank agent is also unable to say anythng.has any1 received the bonds in physical form??

    Reply

    Bharat M Kukreti November 20, 2010 at 8:51 pm

    Have not Recieved IDFC bonds in Reliance DMat A/C. Although my Application# 41811529 on Karvy site shows allotment of 4 number. Can one help me where they are gone ?

    Reply

    Arun November 21, 2010 at 8:44 pm

    Can you please let me know where i can see the allotment on kary website.

    Reply

    Arun November 21, 2010 at 10:57 pm

    Finally found the link where the allotment status can be checked

    http://mis.karvycomputershare.com/ipo/

    Reply

    Ajay November 20, 2010 at 10:24 pm

    Finally Received the Bond certificate through UPC on Saturday 20/11/10.

    Cheers 🙂

    Reply

    Manshu November 21, 2010 at 6:28 am

    Awesome! 🙂

    Reply

    Santhosh November 26, 2010 at 4:20 am

    Ajay,
    Did you receive the BOND certificate after any follow-up with IDFC, or they are sending to everyone. I got 4 bonds alloted thru ICICI.
    -Santhosh

    Reply

    Ajay November 26, 2010 at 10:19 am

    if ur address was correct, you shd get bond advice through UPC post. Askur postman.

    Reply

    DIXON RAJA November 21, 2010 at 7:50 am

    Dear All,
    I had applied in the physical form through idbi bank till now i dont know any status about the bond can any one suggest me what to do now or where to check the status
    Regards
    Dixon

    Reply

    Loney November 21, 2010 at 8:34 pm

    For those who applied for the bonds in demat form, no physical certificates would be issued. But, you will be sent a letter of allotment from IDBI, which can be used to claim tax exemption. You can expect the letter of allotment in another 4 weeks.

    Reply

    Loney November 21, 2010 at 8:38 pm

    Typo

    My previous post should be
    For those who applied for the bonds in demat form, no physical certificates would be issued. But, you will be sent a letter of allotment from Karvy Computershare, the Registrars to the issue, which can be used to claim tax exemption. Everyone should receive the letter of allotment within 6 weeks from the close of the issue according to SEBI guidelines.

    Reply

    Manshu November 22, 2010 at 6:57 am

    Thanks Loney, that’s useful info.

    Reply

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