IDFC Infrastructure Bonds Tranche 2

by Manshu on January 18, 2011

in Investments

IDFC has come out with the second tranche of its infrastructure bonds, and I thought I’d do a post on them because I love getting emails from people telling me that I should mail them their bond certificates at the earliest.

IDFC Infrastructure Bond’s second tranche is also covered under section 80CCF, which means the primary benefit of these bonds is the Rs. 20,000 reduction in taxable income it enables over and above the Rs. 100,000 deduction in the case of Section 80C.

IDFC Infra Bonds: Opening and Closing Dates

The new issue started from 17th Jan 2011, and will close on 4th February 2011.

Interest Rates and Options

The bonds offer an 8% interest rate, and you have an option of getting interest paid annually, or get a cumulative sum at the end of 5 or 10 years. The bonds mature in 10 years, but there is a buyback option after 5 years which means that you can sell the bonds back to IDFC after 5 years, and don’t have to wait the maturity period of 10 years.

Details Series 1 Series 2
Face Value Rs. 5,000 Rs. 5,000
Interest Payment Annual No interest will be paid
Interest Rate 8.00% NA
Buyback After 5 years and 1 day from allotment After 5 years and 1 day from allotment
Buyback amount Rs.5,000 Rs. 7,350
Maturity amount after 10 years Rs. 5,000 Rs. 10,800

Minimum Investment

The minimum investment in these bonds is Rs. 10,000, and while there is no maximum limit, you can get a lot more than 8% for shorter durations for your money in bank fixed deposits, so it makes sense to not buy more than Rs. 20,000 worth of these bonds.

IDFC Infrastructure Tranche 2 Bonds: Physical and Demat Form Available

These bonds are available in physical as well as demat form, so you if you don’t have a demat account, you can still purchase these bonds .

Credit Rating and Secured Bonds

ICRA has assigned LAAA to these second tranche bonds which indicates stable outlook and highest safety. Fitch has assigned AAA(Ind) also indicating stable outlook.

These infra bonds are secured as well.

Tax Proof for the Bonds

If you buy the bonds in physical form then you will receive a receipt, and some people have indicated that this receipt has been used by them as tax proofs. I’m not sure if everyone is able to do so, but that’s one option, and you should check with your company CA to see if this will do.

Once the bond is allotted, you will get an allotment advice indicating that you have bought the bonds, so you can use that allotment advice for tax proof. Keep in mind that you should update your mailing address attached to your Demat account and trading account, so that there are no issues later on.

Last time around, there was a very good feature with the IDFC bonds where they made a web page where people could just input their application number, and retrieve the allotment advice. They could have it this time as well, so don’t lose your application number.

How to buy the IDFC Infrastructure bonds?

You can buy them through a trading account like ICICI Direct; by filling up the physical forms, and submitting them in a branch that’s accepting them; or through an IFA (Independent Financial Adviser).

I don’t have a list of banks you can go to, but I see that KMCC, ENAM, HDFC Bank, ICICI Securities, JM Financials and IDFC Capital are the lead managers, so if there is a branch of one of these near your house or office, you can try them out.

One last word to let you know that this is not the website of IDFC or the lead managers, so writing a comment and email telling me to send the bond certificate to you or do the “needful” isn’t going to help you.

Now, as is custom – ignore what I just said and write a comment to tell me to send you the bond or do the needful at the earliest.

Also read about the REC Infrastructure Bonds.

{ 73 comments… read them below or add one }

Puneet Sharma January 18, 2011 at 3:25 am

Good to see you cover all the infra bonds in this detail.

Side observation: u really seem to be getting a lot of mails with ‘do the needful’ and ‘certificate request’… Hopefully you will start acting on those mails soon 😉

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Manshu January 18, 2011 at 3:54 am

You have no idea buddy! And it’s so rude some of the times. I respond to every email because I feel that these guys don’t know such a basic difference, and really do need help, but it’d help if some of them toned down their language a bit. Esp the people who send their folio details and want me to send their portfolio details!!!

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Puneet Sharma January 18, 2011 at 4:12 am

You do reply to all? Thats great! I mean its hard to keep replying to people to explain that they are asking the wrong person all the time. I wonder why are they rude in the mails… is it because of lack of proper communication skills?
Anyway, hope those mails don’t bog u down too much.

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Manshu January 18, 2011 at 4:22 am

It’s not communication skills and it’s certainly not everyone…I think people don’t get what they are looking for, get irritated and then whoever comes in sight gets it 🙂

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Ishita Das January 18, 2011 at 11:14 pm

We were looking for detailed report on IDFC Infrastructure Bonds and after viewing the above article posted by you, it was of immense help to us who are in search of such detailed and thorough discussion about the topic.

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Manshu January 19, 2011 at 1:20 am

Thank you for your nice words Ishita!

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Abhishek January 18, 2011 at 11:28 pm

LOL – “because I love getting emails from people telling me that I should mail them their bond certificates at the earliest”.

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Kiran January 18, 2011 at 11:36 pm

Hahaha….’Please do the needful’, eh? If I can guess, the profile of such people include freshers+managers in IT firms where this line is used often. Nobody though, usually understands what that means 🙂

Anyway, back to the business of investing, did some analysis for a one year period (what with interest rates on FDs increasing and all), (I think I read about yield calculations for L&T I guess – for people not familiar with yield concept, and understand just the interest rate per year. Of course, yield takes into consideration that the interest is re-invested again etc,but on a very simple note)

Tax rate
30%

Investment in FD at 9%
Amount Invested
20000
Interest rate
9%
Interest per year
1800
After tax interest
1260
Effective interest rate per year ( Interest/Actual amount invested)
6.3

Investment in Infra bonds at 8%
Amount Invested
20000
Amount saved due to tax benefit
6000
Actual amount invested
14000
Interest rate
8%
Interest per year
1600
After tax gain
1120
Effective interest rate per year ( Interest/Actual amount invested)
8.0000

I tried estimating for different interest rates assuming interest rates on FDs would go up….until the interest rates on FDs go up to 12% (which is unheard of), FDs would not be able to beat Infra bonds investment on a per year basis…so that’s that!

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Manshu January 19, 2011 at 1:27 am

I hate that word somehow! Probably picked up from someone I knew whose standard response was “spell out the needful”.

I’ve done a post on how yields on tax saving bonds are done, which build on the calculations that you show here.

http://www.onemint.com/2010/10/30/how-do-the-issuers-calculate-yield-for-tax-saving-bonds/

This might be the L&T calculation you’re referring to?

http://www.onemint.com/2010/10/19/lt-finance-bond-yield-calculation/

And another one which shows the limitations in the way the issuers were calculating yields.

http://www.onemint.com/2010/10/26/limitations-of-the-way-yields-are-calculated-for-tax-saving-bonds/

Personally I feel that the limitations are significant enough for them to drop showing the yield calculation (which they have now), and just talk about the coupon rate.

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Amit January 26, 2011 at 9:03 pm

i dnt want to purchase d IDFC BOND thru dmat. i need it physical bond. where from i get d forms & where to deposit d money ? ? kindly suggest..

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Manshu January 27, 2011 at 8:39 am

Check with a bank branch close to your house, or if there is any agent nearby selling these.

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Rahul January 31, 2011 at 12:50 am

Hi Manshu! You have mentioned about the 8% Coupon rate for both the options viz. With Buy-Back & Without Buy-Back. As far my knowledge goes we get 7.5% Coupon rate for availing the Buy-Back option after 5 years. Kindly confirm.

One more thing I would like to know is what happens t0 the Bonds after 10 years? Are they redeemed by the issuer or they can be traded in the Secondary market? Also if the Bonds are purchased now in Physical form…can they be traded in after 5 years Lock-in or they need to be converted to Demat form first.

Sorry for too many queries…Certain will get them sorted out.

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Manshu February 1, 2011 at 8:58 am

Hey Rahul,

That was for the older issue. For the current issue the rate is 8%. You can see it on their website here: http://www.idfc.com/infrastructure-bond/scheme_features.htm
After 10 years they are redeemed.
No, they can’t be traded in physical form. You will have to dematerialize them if you want to trade them

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Vanukuri Rama Mohana Rao January 31, 2011 at 1:59 am

Sir,
Kindly inform where can I get the IDFC application form? Is demat is compulsory or not? or physically available.
Yours
Ramamohana Rao Vanukuri

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Manshu February 1, 2011 at 8:56 am

Demat is not compulsory, this link has a list of banks you can try out one of these options:

BROKERS TO THE ISSUE

Kotak Securities Ltd. Enam Securities Private Ltd.
Sharekhan Ltd. JM Financial Services Private Ltd.
IDBI Capital Market Service Ltd. RR Equity Brokers (P) Ltd.
SMC Global Securities Ltd. Bajaj Capital Ltd.
Almondz Global Securities Ltd. HDFC Securities Ltd.
NJ India Invest Private Ltd. Integrated Securities Ltd.
BANKERS TO THE ISSUE

Axis Bank Ltd. HDFC Bank Ltd.
IDBI Bank Ltd. Kotak Mahindra Bank Ltd.
ICICI Bank Ltd.
INVEST ONLINE WITH

Sharekhan Ltd. ICICI Securities Ltd.
HDFC Securities Ltd. Kotak Securities Ltd.
Reliance Money India Infoline
JM Financial Services Private Ltd.

http://www.idfc.com/infrastructure-bond/distributors.htm

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rishiraj February 1, 2011 at 11:51 am

IDFC Infra bonds – last 3 days for tranche 2.
if anybody needs help to invest in PUNE kindly contact on 9762847432

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Rahul February 1, 2011 at 7:53 pm

I am really sorry Manshu. You are 100% correct. 7.5% was applicable for older issue. Thanks for all the clarifications.

One more query I have. Yesterday I had a conversation with a Broker regarding Cumulative Option. He said that only those who have Demat A/c can opt for the Cumulative option. Investors buying the Bonds in Physical form has to opt for Annual Interest payment option. Kindly confirm.

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Manshu February 2, 2011 at 7:30 pm

First time I’ve heard that….I really don’t know about that. I haven’t heard that – I posed that question to one of the IFAs answering questions here and he might be able to answer it.

Check the comments here:
http://www.onemint.com/2011/01/15/rec-infrastructure-bonds-section-80ccf-infra-bonds/comment-page-1/#comment-124281

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Manshu February 4, 2011 at 11:28 pm

Rahul,

I don’t know if you checked out Shiv’s response on the other post, so I’m posting his response here as well:

“What Rubbish ??.. there is nothing like that… REC is not offering the cumulative interest option & the interest will be paid on March 31st every year whether its 8% interest option or 8.1% interest option.. IDFC is offering Annual or Cumulative interest option under both “Demat Form” option as well as “Physical Form” option… Probably the broker wanted the investor to get the Demat A/C. opened with him.. 🙂

For more info or to invest in REC Infra Bonds / IIFCL Infra Bonds / IDFC Infra Bonds, Call/SMS 9811797407 (Delhi, Gurgaon or Noida).”

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Rahul February 6, 2011 at 6:58 pm

Sorry for being a bit late, bit busy. Thanks for the confirmation & help. Yes I have invested in Infra Bonds with some other broker. Previous one was a idiot.

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Sneha Suri February 2, 2011 at 1:04 am

Just wanted to ask ..whether the interest on these bonds and the redeemed amount on expiry are taxable?

Plz share if you have some idea. Thanks for your time.

Sneha Suri.

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Dinesh Mutreja February 2, 2011 at 8:47 am

Yes Sneha Interest is Taxable but no T.D.S. You have to show urself in I.T.

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Manshu February 2, 2011 at 7:03 pm

just the interest will be taxable if you take the interest option. since the 5k you invest in the beginning gets redeemed and you get that amount on redemption its your own money and there’s no tax on that.

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AKM February 2, 2011 at 3:15 am

Hi.

Can you please suggest me any forthcomming bonds in February and March. I do not want to invest in currently open IDFC bonds. Please help.

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Manshu February 2, 2011 at 6:59 pm

REC is out, and then L&T is supposed to come out with another tranche.

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Dinesh Mutreja February 4, 2011 at 4:54 am

Yes New 2 Infra Bonds are coming next week which can valid upto feb end feel free to call me 9022235541 for Mumbai Investors

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Dinesh Mutreja February 2, 2011 at 8:45 am

Hi If Any Person who Lives In Mumbai want to Invest In IDFC INFRA BOND Please feel free to call Mr. Dinesh on 9022235541 & 9619789186 for Door Step Service

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Prateek February 3, 2011 at 4:46 am

Hi Manshu, real nice work going on here. I passed out of college last year, and when I had to invest for the first time in my life, this site proved to be very useful. Lots of funda here 🙂

I had a doubt though. I hear from a few people if I buy back the infra bonds before maturity period, tax will be chargeable on the WHOLE amount, as in the 20k invested plus the interest that I get. Is that true ?

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Manshu February 3, 2011 at 10:33 am

No Prateek, that doesn’t sound right to me at all, and I haven’t read it anywhere. Ask for the source from whoever is telling you this.

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Dinesh Mutreja February 3, 2011 at 12:16 pm

If Any Person Living In Mumbai need any Tax savings options along with IDFC INFRA feel free to call me on 9022235541 & 9619789186
Tax Savings Applicable 80CC Rs. 1 Lakh
Applicable 80 D Rs. 15000/- your self
Applicable 80 D Rs. 20000/- for Parents
Applicable 80CCF Rs. 20000/- Infra Bonds
Total Saving Rs. 1.55 Lakh if ur in 30% slab save Rs. 47430
If Any Person who think that they are not getting back Investment of 80 D then i have product u can save full tax save in 80 D and get ur investment back with profit also.

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Dinesh Mutreja February 4, 2011 at 4:56 am

Infra Bonds are coming next week by IIFCL & L & T .
We had missed to Invest In IDFC they can save tax in coming bonds which are valid till feb. end. call on 9022235541

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MITHILESH February 19, 2011 at 7:19 pm

I APPLIED FOR 4 IDFC TRENCH-II INFRA BONDS VIDE APPLN NO-3 8595655
.BUT TILL DATE NO INFORMATION OF ALLOTMENT.PLEASE HELP.
MITHILESH

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Prateek February 20, 2011 at 10:01 pm

It will alloted on 21st Feb, that’s what I got in email from them.
On 22nd Feb Morning, visit site(it will open next day of allotment) and enter application number. As mentioned in original blog wait for the website to launch.
http://karisma.karvy.com

Else drop mail to idfc_infra@karvy.com for your allotment status.

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Anita Khanna February 22, 2011 at 1:43 am

Hi,
Do you think IDFC Infrastructure Fund would be beneficial? I am pretty optimistic about the future of the sector in particular, and the company as per their press release is going to invest in power, transportation, oil & gas, water management etc. I think even the fund manager has a good experience.

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Manshu February 22, 2011 at 7:03 pm

Anita – I think you are talking about the mutual fund, and this is the post about the infrastructure bond. Here is a post I did today about the mutual fund that will be of more value to you:

http://www.onemint.com/2011/02/22/idfc-infrastructure-mutual-fund-nfo/

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compaq February 22, 2011 at 10:36 pm

how can we see allotment status or the recieppt as i urgently require for tds deduction prevention
thanks manshu

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Manshu February 23, 2011 at 2:17 pm

I haven’t seen a link or place to look up that info for IDFC tranche 2. However, what you should be able to do is to use the receipt that you got after purchasing the bond as tax proof.

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Shiv February 26, 2011 at 10:46 pm

Hi Manshu

Link for checking the allotment status of IDFC Infra Bonds – Tranche 1 & 2:

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

For more info or to invest in PFC Infrastructure Bonds / L&T Infrastructure Bonds / IDFC Infrastructure Bonds, Call/SMS 9811797407 (Delhi, Gurgaon or Noida).

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Anu February 24, 2011 at 8:36 am

Hi, I have bought the IDFC Bond. I bought with the assumption that my deduction under 80 C will be over Rs. 1 lakh. But now, when I calculate its not so.. In such case, can I use this bond for any deduction under 80 C ?

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Manshu February 24, 2011 at 7:15 pm

Anu – What you will get is a 20,000 deduction in your taxable income provided you invested in bonds worth Rs. 20k. Anything above that will not give a tax benefit. What is the value of the bonds you’ve purchased?

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Dinesh Mutreja March 10, 2011 at 5:08 am

If Any Person Living In Mumbai need any Tax savings options along with IDFC INFRA feel free to call me on 9022235541 & 9619789186
IDFC Infra Bond Last Date 16th March with 8.25% Return
Tax Savings Applicable 80CC Rs. 1 Lakh
Applicable 80 D Rs. 15000/- your self
Applicable 80 D Rs. 20000/- for Parents
Applicable 80CCF Rs. 20000/- Infra Bonds
Total Saving Rs. 1.55 Lakh if ur in 30% slab save Rs. 47430
If Any Person who think that they are not getting back Investment of 80 D then i have product u can save full tax save in 80 D and get ur investment back with profit also

Reply

Madumita De April 22, 2011 at 1:26 am

Till date I had not received the bond certificate & allotment advice for the bonds applied against the application form no. 18627060.
Request to kindly arrange to despatch to my residence address mentioned in the application form.

Madhumita De

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pramod kumar tiwari May 25, 2011 at 5:41 pm

sir,
i have applied infrastructure bond vide applicatiin no-3-5774830 .Till date neither I received any bond nor any information .please let me know what should i do

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Shiv Kukreja May 26, 2011 at 4:00 am

Hi Mr. Pramod

You’ve been allotted 2 Bonds in your VCK Share & Stock Broking Demat A/C. 1205320000030581. Please check with your DP.

In case of any further query Contact Karvy at 1800-3454-001 or mail them at einward.ris@karvy.com.

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Bhalchandra Surekha Anil June 11, 2011 at 4:39 pm

hi,
i have deposited Rs. 20000/- in IDFC Trenche 2 .Application No. is 5896979. Till this dt. i have neither received the Bond nor the advise note. Pl.let me know the procedure i have to follow ?
Pl. reply.
Surekha

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Shiv Kukreja June 12, 2011 at 10:38 am

Hi

Check the status of your application here:

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

I tried to check it by putting your application no. but I think you have not been allotted the bonds due to some reason… Check your Bank Statement whether the cheque you issued for these bonds got cleared or not… If it did, in whose name it got cleared… contact your service provider immediately in case you are not able to find any clues..

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roshan bhamar August 22, 2011 at 10:46 am

Dear Sir,
This is to inform you kindly response 2 applications dittale as per under

Ramkumar Gupta App. No. 42764918

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Manshu August 22, 2011 at 4:36 pm

Please talk to your agent or the bank or whoever sold you this fund. This is like a news website like Times of India and can’t help you in getting any details.

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Amit Patel August 31, 2011 at 6:03 pm

i had IDFC infra bond in my demat account.I want transfer My Demat account to other company.can IDFC bond is tranfered to my NEW demat Account?………..

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MANOJ December 2, 2011 at 5:18 pm

I had purchaised 4 no. of IDFC infra dond last yeay. Till now I have not received my dond copy. Pl advise what to do.

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Shiv Kukreja December 2, 2011 at 7:28 pm

Hi Mr. Manoj

Please check the allotment status of IDFC Infra Bonds through this link – http://karisma.karvy.com/investor/jsp/IDFC-APP.jsp

In case you face any further difficulty, contact the Registrar of the issue which is Karvy Computershare.

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Manoj December 8, 2011 at 9:54 pm

Till date I had not received the bond certificate (hard copy)for the bonds applied against the application form no. 51901317.However I have been alloted in my beneficiery account(demat account)
Request to kindly arrange to despatch the same to my residence address mentioned in the application form. Manoj Pattnaik

Reply

Manshu December 8, 2011 at 9:56 pm

What part of the above comment do you fail to understand?

This is like a news website like Times of India – you won’t get someone from here to dispatch your bonds. Talk to your agent or whoever helped you buy them.

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b.ghorai December 27, 2011 at 2:49 pm

Till date I had not received the bond certificate (hard copy)for the bonds applied against the application form no. 21823882 for Rs. 20,000/- .
But I have not also been alloted in my beneficiery account(demat account)
Request to kindly arrange to despatch the same to my residence address mentioned in the application form. Banamali ghorai

Reply

b.ghorai December 27, 2011 at 2:51 pm

Till date I had not received the bond certificate (hard copy)for the bonds applied against the application form no. 21823882 for Rs. 20,000/- in fin./year 2010-11.
But I have not also been alloted in my beneficiery account(demat account)
Request to kindly arrange to despatch the same to my residence address mentioned in the application form. Banamali ghorai

Reply

Agrawal S K January 9, 2012 at 9:38 am

Kindly let me know what is meant by secured? Who gives guarantee to return in case it means so? In other way what is the difference butween secured & non-secured 80ccf infrastructure bond?
Regards

Reply

Manshu January 9, 2012 at 8:47 pm

It means that if the company goes bankrupt then the court can sell some of the company’s assets and try to recover the loan money. It DOES NOT mean any sort of guarantee. You could still lose money if they aren’t able to recover the money by selling the attached asset.

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ARUN KUMAR January 10, 2012 at 5:35 pm

I have applied for IDFC Long Term Infrastructure Bond-Tanche 2. My applicatin no. is 41701194 Folio No.-IDB0336409 dated 21st Feb, 2011. I have not received the Bond Paper on the address given till now. Now I have transferred to Allahabad. Hence my Bond Paper may please be sent to the address given below:-
ARUN KUMAR
Zonal Accounts Office, CBDT, Aaykar Bhawan,
38 M.G. Marg, Civil Lines, Allahabad-211001

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Radhika January 31, 2012 at 6:46 pm

Hi,
I have taken IDFC Tranche2 bonds directly from IDBI bank. I dont have DMAT account.
When can i get the bond or allotment letter ? i have submitted the acknowledment and bank statement in company. They rejected and need bond or allotment letter.
Please advice where can i see the allotment details.

Thanks,
Radhika.

Reply

Shiv Kukreja February 1, 2012 at 12:03 am

Hi Radhika… IDFC Infra Bonds – Tranche 2 allotment will hapeen within 30 days after the closure of the issue, which is scheduled to happen on February 25th, 2012. So you should expect the allotment to happen before March 25th, 2012.

Almost all of the companies accept the bank stamped acknowledgement as the investment proof. Maximum they ask for the bank statement for payment confirmation. As you’ve submitted both & still your company is not ready to accept it, you need to press harder to convince them about the same. Nothing more can be done about it.

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venkoba Rao R March 14, 2012 at 3:53 pm

i have invested Tranche 2 bonds of IDFC in Feb 2012,
when i will get bonds, i has submite to my employer for tax savings
kindly inform me.

thanks

R.Venkoba Rao

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Manshu March 15, 2012 at 4:58 am

You can use the receipt on the application form as tax proof.

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ATANU DAS March 20, 2012 at 11:08 am

My company is not accepting the bank acknowledgement either. They are asking for the certificate itself. Isthere any url to get the certificate online – in soft copy? I am asking about the IDFC Tranche 2 ONE.

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Rakesh Kumar dubey March 20, 2012 at 4:29 pm

I have applied for IDFC long term infrastructure bond Tanche-2.My application no. is77507777.I deposited by cheque no.132701,SBI obaidullaganj ,Dist. raisen, M.P. branch.I have deposit application form and a cheue of rupees 20000/-by Dhanlaxmi Bank Ltd. Bhopal dated 23-02-2012.TAR no.1291463 58675.I have not recieved the bond paper on the address till now.Please may be sent to the address given below-

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Rakesh Kumar dubey March 20, 2012 at 4:42 pm

I have inyested Tranche 2bonds to IDFC in 23-02-2012 by Dhanlaxmi Bank Ltd. Bhopal.My application no. is 77507777. kindly sent me y Bond papers to the address given below- Rakesh Kumar dubey, House no. 2, Near Gayatri mandir ,Obaidullaganj, District- Raisen M.P. Pincode -464993.

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Jai Prakash March 22, 2012 at 7:29 pm

I have applied for IDFC long term infrastructure bond Tanche-2. I recd msg on my mobile that my application is 76507270. I have not recieved the bond paper on the address mentioned in my application till now. Please let me know when I will received my Bond. I have no experience about investment in Bonds. Will you kindly tell how can I encash it ? What is the locking period, and what will be the maturity value ?

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Jai Prakash May 29, 2012 at 6:45 pm

Till date no intimation has been received what I requested

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Manshu May 30, 2012 at 5:10 am

This is like a newspaper website not the website of the bond issuer. Also, you don’t know the maturity, lock in period or any other details of the bonds? How did you ever buy them then?

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h.c.suresh May 2, 2012 at 12:28 pm

i have invested in idfc infrabonds in feb 2012. i have been allotted in demat mode. unfortunately i have not ticked the buy back option in the application.can any be done to opt buy back option now?

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h.c.suresh May 2, 2012 at 12:31 pm

i have invested in idfc infra bonds in feb-2012. it has been allotted in demat mode. i have not mentioned the buy back option in the application. can any thing be done now to opt buy back option?

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Sanjeev Kumar August 4, 2012 at 4:12 pm

I bought and also advise to do so to my several friends. But Mr. Pramod Singh Negi’s Certificate bears name as Gursharan Singh although the covering letter is having its own name. Dealing was done with Praveen Pathak at the State Bank of India,Parliament Street, New Delhi. After so many months they were making excuse for one or the other but now telling me to deal direct with the company. Please suggest.

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Shiv Kukreja August 5, 2012 at 11:04 pm

Hi Sanjeev… Most likely it is a punching error or typing error by Karvy Computershare. First of all, do you people have with you the photocopy of the filled application form, which you or Praveen must have submitted while applying for IDFC Infra Bonds?

If yes, then talk to Karvy Computershare on their customer care no. or mail them at eimward.ris@karvy.com stating there is a name mismatch on the certificate. Karvy will have to issue you a new bond certificate if it is their mistake.

If you dont have the copy of the form then ask Praveen to provide it to you. You’ll have to contact Karvy for this thing, Praveen is of very little help to you. This industry has become sales-oriented and very little help comes for service issues.

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sssehgal March 12, 2013 at 2:57 pm

idfc infrabonds 2012 certificatres not received
rajinder kaur w/o narinder singh sidhu app no
41971596 ,date13/2/2012 ,rs,20000 r/o muktsar
another applicant dr krishanan app no 41971601
rs 20000, datew7/2/2012r/o adesh nhospital muktsar
contyact 9814714773 mobile

Reply

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