Iâ€™ve received a few emails about when applicants will receive the IDFC infrastructure bonds, and since the company didnâ€™t announce when this will happen before hand â€“ people have been wondering when they will get the bonds.
Readers Ajay, Loney, Satish, Nageswara, Sandeep, Sangram, and Subhro (among others – it’s a really big thread so I couldn’t include all names) have left comments sharing their bond status, and that helped a great deal in getting an idea on whatâ€™s going on with this.
A big thank you to all of you for keeping everyone informed!
I donâ€™t think everyone who applied for the IDFC Infrastructure bonds is subscribed to the comments on that post, so I thought Iâ€™d create a post from the information shared by these folks.
Letâ€™s take a look at some of the more important points from that thread:
1. Allotment took about 3 weeks: The bond issue closed on 22nd October, and people have only started seeing the bonds credited to their demat accounts, so the time from issue closure to the actually seeing the bonds has been around 3 weeks. This will form a good reference for other infrastructure bond issues in the future.
2. Not everyone has received the bonds yet: There seems to be some mechanism by which bonds are being gradually credited across applicants, and not everyone has received these bonds yet. If your account has not been credited yet, then there is no need for alarm, as people have only recently started seeing bonds credited, and it might still take a few days for it to appear for you.
3. NSDL sent an SMS about credit of IDFC Bonds: The depository â€“ NDSL â€“ had sent a SMS letting people know that the bonds have been credited. However, the bonds were not visible in the account immediately. So even if you received the SMS that doesn’t necessarily mean you will see the bonds in your demat account as well.
4. No one has received the physical certificate yet: The people who have reported getting the bonds have all applied through a broker, and have demat accounts, and none of them have received the physical certificate yet. So if you have applied without a demat account, then it might take longer still for you to get the physical certificate.
Donâ€™t press the panic button if you havenâ€™t received the bonds yet because you are not alone, and there are several others whose money has been debited, but the bonds havenâ€™t been credited yet. Â My guess is that you should start seeing them in your demat account in the next few days.
Future Infrastructure Bond Issues
Some of you have also expressed dismay at the fact that you missed this and the L&T issue, but were interested to buy the bond for tax saving and other purposes.
The good news for you is that IDFC as well as other issuers have said that they are going to come out with more such issues towards the end of the fiscal year because that is when most people are actively looking out for tax saving vehicles, and they are likely to do a lot better at that time than now.
Finally, some people have written in asking if itâ€™s better to wait out for a higher rate of interest than investing in this offer.
I honestly donâ€™t know what issuers are planning for the future, based on the lukewarm response, they might sweeten the deal, but I have no way of knowing for sure.
Iâ€™d say donâ€™t lose perspective of the fact that the primary benefit of this is of tax saving. If youâ€™re able to wait and get a bond which offers a percentage higher, and you invest the maximum Rs. 20,000 in it â€“ that means an additional 200 bucks extra in a year; what is that worth to you? How many hours of Googling and speculating is it really worth?
This is a personal decision really, but something worth keeping in mind the next time you speculate on whether you should wait or go ahead with it. And once again – a big thank you to all of you fine guys who left comments and kept everyone informed!
120 thoughts on “IDFC Bonds allotment and future infrastructure bond issues”
I have not yet received yet physical copy of IDFC Bonds and also not yet credited to my ICICI DMAT account either. I sent email to karvy and IDFC Bond – contact email but not yet confirmed. It is already too late. Not happy with the service.
You will probably need to give them a call Satish. Just emails don’t work as well. But yeah, they should have been more pro-active about it.
I received my physical copy today 🙂 just thought I’d let you know!
Thanks for leaving the comment Bhavana. I appreciate that. I’m looking at your other comment about the allotment but haven’t replied yet because I wanted to check on something first. Will reply in a few hours.
I HAVE PURCHES RS20000 L &T INFRASTRCURE BOND IN OCT 2010.
BUT TILL TODAY NOT RECIVED,MY DEMAT NO ID 12047200 00010502
PLEASE MAIL ME ABOUT L&T INFRSTCTURE BOND SENDING ME
Sorry, but no communication has been out yet.
L&T Infrastructure Bonds – sms received about transfer to demat account in wife’s name. checked Demat account of wife today. The Bonds are there.
In case of IDFC bonds in physical format , they may be alloacted but bond not received if there is missing information on application – like missing proof of residence. A form has been sent by IDFC to be filled and sent along with missing informations.
Appreciate your response Ravi – You’re the first person who left a comment about receiving L&T bonds, and I think others will receive the bonds now too.
Can you pls. advise what I should submit to my office as investment proof for tax exemption? I’ve received the bonds in my DMAT account, but nothing else. has anyone received a certificate or something equivalent that can be submitted?
Thanks a ton for starting this forum. Helps a lot, esp. since the IDFC website itself hardly has any customer support helpline!
Some ICICI Direct customers have received a physical certificate Bhavana, so if you receive a physical copy then you can submit that.
Otherwise some customers have been advised to submit a hard copy of their demat holdings page which shows that the bonds have been credited as proof.
And appreciate your comment, and I’m thankful to all the folks who have taken time out and left comments and answered questions of other readers too. Thanks a ton!
Thank you very much manshu for starting this forum,
I was very much panic about the status, i was getting no information from anybody.
Finally I could see in the http://mis.karvycomputershare.com/ipo/ my IDFC bond status,
I had also recived the SMS stating my Allotment.
Hopeing to recived pyshical form soon.
MA Khaled khan
Appreciate your thoughts very much, and thanks to all the great commenters who have left a message keeping everyone informed and helping people out.
I had applied for IDFC Infra Bonds worth 15K physical form, but I had not been recived any information reagrding this and not got any documents till date while 1 month and 8 days going on.please help for finding my status and document because i need to submit in my office for tax saving…………………….
Please use this link http://mis.karvycomputershare.com/ipo/ and enter your application number to see if the bonds have been allotted to you at all. Most people have received the bonds in their demat account, so you should do this quickly, and check with your agent on what might the cause of your issue be.
i have applied for idfc long term infrastructure bonds and my account has been debited on19th oct 2010 by idfc chandigarh but i have not received idfc infrastructure bonds in physical form yet kindly send me bonds of rupees 20000 because my account is debited on 19th oct 2010
I had applied for IDFC Infra Bonds worth 20K, but I had not been alloted the physical bonds yet. I’m not sure what my PAN address is. Any idea how to find out?
I found out my address through the income tax site…but I need to update it. There is option to change the email and phone through the site but not the address. Can someone help?
These are the instructions listed below the PAN details in https://onlineservices.tin.nsdl.com
* If there are any changes in your name and/or address as mentioned above, submit Request for new PAN card or/and changes or correction in PAN data with any TIN-FC or online (www.tin-nsdl.com).
And i’m planning to submit a change correction in my PAN card.
Okay, so, I checked on http://mis.karvycomputershare.com/ipo/ and found out that I have not been allotted IDFC infra. bonds. My guess is that my agent screwed up my demat account number on my application.
Whatever the case may be, any idea/experience in terms of how I’d get the refund – by post (physical check) or a direct deposit to my savings a/c? I had made the application in old-fashioned (paper app).
The prospectus says that they will send an account payee check or demand draft in case of refunds.
I don’t think anyone here has posted about getting a refund so no real experience yet. If possible, please leave a comment when you do get the refund so others know what to expect.
Since i did not have a demat account I have received the physical copies of the bond today. There was a slight issue that they did not post it to the address i gave in the form, they instead sent it to the address my PAN was registered with. That caused me some nuisance at my end. Got to update the PAN address immediately.
Thanks for letting everyone know Rohit!
I have received my physical certificates. Same as Rohit in a different address and with diffrent bank details…
To Rohit, Do we have any Mutual Fund Holding with any of the Mutual Fund House where Karvy is the Register and Transfer Agent? I guess what is happening they do not bother to input the data submitted in the form in their system and using the old data avialable in their system. I used to hold some MF units where Karvy is Register, and they used the same address and Bank details registered there… do not bother to take the address and bank details in the application form…
Thanks for your comment Santanu.
I do not have other mutual funds where Karvy is registar, and hence my bank account details are correct. But yeh, these guys have not taken the complete details from the application form (taking address from ITD is what i noted in my case)
I am very surprised at the way the allotment has been handled. It has been a month since the debit to the applicants’ account took place. When the whole process is electronic and almost straight thru (except for the issue of stock in physic form), this kind of delay is inexcusable. There is also no news about the bond in the IDFC website nor are any of the brokers to the issue forthcoming. The issuers seem to be under the impression that this level of servicing is adequate for the investors. I had expected a more professional approach from the HDFC/ IDFC group and am quite disappointed at the lack of clarity at all levels.
Just wanted to let you know – I got the IDFC bonds in physical form yesterday – 22/11/2010.
That’s great news Ravi. Thanks a lot for leaving a comment and letting everyone know! Appreciate it.
I had purchase 4 bound in Physical Format, the amount has been debited from account, but there is no infomation from IDFC side. you have any idea what’s doing no or if you have any connect details where I can check about the bounds ?
Please take a look at the link I shared above for an earlier post because there are a lot of people who have commented on their status, and future course of action.
HI, I invested 20000/- in idfc through demate acount as well my dad has invested for physical form altough i received msg from nsdl thta bonds has been credited. i cant see it in my demate account and alos there is no news for my dad’s application????? : ( : (
Dr. Mithun, please head over the IDFC FAQ thread (link: http://www.onemint.com/2010/10/12/idfc-infrastructure-bonds-faq ) to see where you might see your bond details, since people with different accounts have written where to go to see this. I think you have received the bonds, but aren’t able to see them in the right place yet.
I hope your dad gets some notification soon.
I have applied 4 nos IDFC infrastructure bond on 14.10.2010 for Rs.20000/- against application no. 3 4976819 and the amount has been debited from my account, but till date I have not received any information regarding allotment and have not received the certificate.
Please send through email: firstname.lastname@example.org
I required physical certificate /Proof for submission in the office against Tax exemption.
Jayantibhai C. Makwana
Hi Jayantibhai, I think you have left a comment here mistaking this for IDFC website, but this is not their site, and I think your best bet is to contact the agent / broker who sold you this.
I have applied 4 nos IDFC infrastructure bond on 11.10.2010 for Rs.20000/- vide icicidirect.com against application no. 12007772 and dmeat a/c no. 40864889 but till now I have not received any information regarding allotment and I have not received the certificate.
My Address has been changed so please send me my certificate on my new address as given below or send through email: email@example.com
My New Address is as given below:
384-A/2, Ground Floor,Gali no.-16,East Azad Nagar,Delhi-110051
I required physical certificate /Proof for submission in the office against Tax exemption.
ROHTASH KR. JAIN
Please look at your DP holdings, and the bond should show up there. Also you need to contact ICICI Direct call centre to change your address, leaving a comment here will not get that done.
Here is the link to their numbers.
I see the bnds reflecting in my DP demat acct, but havent received in physical frmat.
Please clarify Even for demat holders, will they send physical bonds?
A reader in another thread has said that Sharekhan has advised that they will not send a physical certificate so please head over to this post, and look at the comments section – that will give you an idea of what different brokers have said, and compare it with your own broker to see what to expect.
If I had applied for the bonds for just 5 years with buy back option opted, will it still qualify for Tax Saving under 80CCF
Sure Naveen, you will get the benefit regardless of which series you opted for.
Thanks Manshu, was worried as my company Finance team had updated that the bonds should have a time period of >=10Years, which seems to be incorrect . So ideally if its >=5 Years we should get the tax benefit
That’s the first time I’ve heard anything about it, and that info doesn’t seem accurate to me. The IDFC as well as L&T bonds are advertised and sold as having 80 CCF benefits, and the series someone chooses shouldn’t have a bearing on the tax exemption this year.
Please keep an eye out for the physical certificate as no one seems to have received it yet. If possible, please leave a comment here when you receive the certificate as others are also looking out for theirs, and this way everyone will be informed. Thanks!
sure… However, I have applied through Reliance Securities. Though, I did get an SMS long back stating that I have been allotted IDFC Bonds, its not visible in my Demat Account. Also, not sure if we would get some sort of Physical Certification, which can be used for Tax exemption.
I am following your thread on the FAQ link as well, lets hope we get some sort of confirmation letter atleast.
i have applied for Rs 20000 in IDFC bonds.i do not have DEMAT A/C.how many days would be required roughly for the delivery of physical certificate?
Well, there has been no news on when these will start showing up, so can’t really say with confidence. I haven’t heard anyone get a physical certificate yet, so you’re not alone Nilatpal.
How would I come to know about the alottement of Bond?
Is there anyway to find out on any site against application no.?
Manish, you will have to look at your demat account, and see if the bond shows credited there. People owning different accounts have left comments on how to see and based on which account you use – you can check out the relevant comment.
You might want to use Ctrl F because of the large number of comments there.