I got this email about the IFCI bonds, and I thought I’d paste my response here as well.
Q.
are these bonds same as shares
can we sell it on market or we have to sell it to the company itself
what is the locking period
A.
No, these bonds are not same as shares. Share prices go up and down every day, and can be quite volatile. Also, there is no guarantee that you will get a certain amount back at the end of the tenure.
These bonds will be locked in for 5 years, so you will not be able to trade them for that much time. They will then be listed on an exchange but will not be as volatile as regular stocks. They will pay you an interest, and also save tax which is not something stocks do. Think of bonds more like a fixed deposit than a stock.
Feel free to weigh in on the response, and add your comments!
We(Ramesh Chandra/Satyawati Verma) hold 1(one) IFCI FAMILY MILLIONARE BOND 1996(Folio No.:5223-967 Certificate No.:162013 Distinctive No.:163645)Sir my problem is I am unable to unable redeem my bond since I don’t know WHAT IS THE STATUS OF MY BOND also how to proceed for redeeming what formalities are to be completed hence seeking your help as well as guidance please get me out from this problem. also unable to trace their registrar’s email id. so as to send a query to them
Ramesh Chandra
Satyawati Verma
Hello,
I have IFCI FAMILY BONDS purchased on september 1996.
In that it is written total face value which I can get on september 6 2024. Also early redemption dates along with face values are also writtenBut if I want to redemp early now in december 2014, what is the procedure?
To whom I should contact (phone number)or go in delhi IFCI office.
Thanks if you reply me at earliest.
sheelu
We have 3 bonds for 15 lakhs maturity date on 2015and 2017 onwards but now we want to redeem it now , how can ?
1 .IFCI 9 080815 INE039A09GH5 ISIN
2. IFCI 10.25 170817,INE039A09PB9 ISIN
3.IFCI 10.2 INE039A090S6ISIN
hi,
I have bought a bond on 2012 with application no 292206 against a checque no 557753 if ICICI bank from my Mumbai address. I moved from that address on december 2012 to Hyderabad and didnt receive any communication like certificate , doc telling bond no even.
couild you mail me my bond no and status of the bond.I would like to receive certificate to my hyderabad address also.
please reply me . I have written this application before also but no reply yet.
1)Pl get your address changed in ICICI Bank & ICICI DIRECT/Demat account first.
2)Write to the address of the bond for change of address and a copy of the bond.
Dear Sir/ Madam,
My father had invested in the IFCI Family Bond issued in 06-09-1996 retirement bond can you please guide to know the status of these bonds and also the procedure to redeem.
Best regards,
Vishal Shah
Contact: 9833430132
How can apply?
Sir,
I had submitted application for issue of bond APPLICATION NO 30940 ON 28-10-2011FOR RS. 20000/- THROUGH HDFC BANK JODHPUR .UP TO WHAT DATE I WILL RECERIVE THE BONDS.
HOW I CAN CHECK STATUS
THANKS
Mangilal jain
I am having Millionaire Bond, Folio No.5423-570, Certificate No.306876, Issue Price Rs.5000. Due to some financial problem, I would like to opt for Early Redemption of this Bond. The due date is 30.9.2011. Kindly advise me formalities to be completed towards this. Regards.
RB Karajgar
Mob.No.09425013766
Present Add : 214, Phase-III, Garden Home, City Centre, Gwalior – 474011 (MP)
This is like a news website like TOI – please talk to your agent / broker to get this info.
Thanks. Can the acknowledgement receipt of the bonds be considered during tax declarations?
Amit – people here have mentioned that some of their offices have allowed to use the receipt as proof so you may try as well. In general, I’ve noticed there is not much consistency in what different offices accept.
Is there an option to check the status of the purchased bonds through the internet as I’ve not received any communication about the same after I’d purhased 4 IFCI bonds.
No, not yet, and in future please use your initials or something as these type of test ids and names have a higher chance of going into spam, and it’s difficult for me to keep track of who I am engaging with.
if i will buy infra bond for Rs.20000/- then should i get tax benifit of Rs.6180/-(incl 3% EC)
Yes that’s right. Here is a detailed post that I did some time ago that shows how this yield is calculated.
http://www.onemint.com/2010/10/30/how-do-the-issuers-calculate-yield-for-tax-saving-bonds/
How can we find the status of application of IFCI Infrastructure bonds through Internet?
I don’t think there is any provision to do that yet Kailash. They might come up with a site later that allows you to download allotment advice like the IDFC bond, but it can’t be done yet.
Can an acknowledgement receipt submitted as an investment proof ?
I don’t know Shvet – you could try out asking your company’s tax folks if they will accept it, and if not, then what else can be submitted. I don’t recall anyone else mentioning that they have been allowed to do so.
Do IFCI Infrastructure Bonds ensure capital safety and assured interest rate?
Deepa – They are unsecured bonds, which means that if the company goes bankrupt, and the shareholders get wiped off then there can be a question mark on the capital and interest.
Other than that – yes – in normal course the interest rate is assured. All infra bonds so far have been unsecured, and I expect future issues to be unsecured as well.
Want to know will there be any TDS deduction on redemption. (or will it be as per the prevailing laws?
The thing with this is that initially these bonds were issued as only Demat, which means that there is no TDS, but then later on they added a physical form also, but there is no clarification if there will be a TDS or not, or will there be a TDS on the physical format, so I’m not very confident on which way the tax will be deducted.
How can I buy the IFCI infrastructure bonds online. I have a demat account
IF you have a trading account like say ICICI Direct or something you can go to its IPO section, and you should find this option there.
I do not have Demat account. Can I purchase IFCI Infra bonds in physical form?
No, because they have made it mandatory to have a demat account in order to buy the bonds.
Hi, I just wanted to let you know that they have made some changes to the terms and it’s possible to buy the bonds in physical form also now.
sir i am lalit kumar sarswat
My Application Number
1- 1270590
2-1270548
3-1270511
4-1270504
5-1270520
I’m not sure I understand; have you applied for IFCI and want to know the status now?
When L & T Infra Bond will be issues or credited in Demate Account. I applied for it and I don’t have knowledge about it. So can you please let me know what will happen after apply and when ? Thanks
There’s really no news on when the L&T bonds will be credited, so I can’t say for sure. But if I hear anything I’ll write a post or leave a comment here or something.
Once listed in exchange, based on what factors will the price of these bonds change?
My knowledge of how bond listing works in the real world is very limited, so I can’t be sure of what really happens.
The recent SBI bond issue listed with a 5% gain, and the two most important factors as far as I know is the current interest rate scenario vis-a-vis the coupon on the bond, and the credit quality of the issuer.