In the last 2 or 3 days, there have been a few comments and emails inquiring about the availability of 80CCF infrastructure bonds. I guess there are always some people who get left behind till the very last moment.
There are still 4 companies that have infra bonds on offer, but they are all going to close their issues soon since it’s so close to March 31st.
Here is a list of the infrastructure bond issues currently open.
| Company |
Series |
Tenor |
Buyback |
Interest Rate |
Payment |
Credit Rating |
End Date |
| IFCI |
1 |
12 |
After 5 & 7 years |
8.50% |
Cumulative |
CARE A+ |
March 27 2012 |
| IFCI |
2 |
12 |
After 5 & 7 years |
8.50& |
Annual |
CARE A+ |
March 27 2012 |
| IFCI |
3 |
15 |
After 5 & 10 years |
8.72% |
Cumulative |
CARE A+ |
March 27 2012 |
| IFCI |
4 |
15 |
After 5 & 10 years |
8.72% |
Annual |
CARE A+ |
March 27 2012 |
| PFS |
1 |
10 |
5 |
8.93% |
Annual |
CARE LA+ |
March 27 2012 |
| PFS |
2 |
10 |
5 |
8.93% |
Cumulative |
CARE LA+ |
March 27 2012 |
| PFS |
3 |
15 |
7 |
9.15% |
Annual |
CARE LA+ |
March 27 2012 |
| PFS |
4 |
15 |
7 |
9.15% |
Cumulative |
CARE LA+ |
March 27 2012 |
| IDFC |
1 |
10 |
5 |
8.43% |
Annual |
Fitch AAA |
March 30 2012 |
| IDFC |
2 |
10 |
5 |
8.43% |
Cumulative |
Fitch AAA |
March 30 2012 |
| PFC |
86-A |
10 |
5 |
8.43% |
Annual |
CRISIL AAA |
March 23 2012 |
| PFC |
86-B |
10 |
5 |
8.43% |
Cumulative |
CRISIL AAA |
March 23 2012 |
| PFC |
86-C |
15 |
6 |
8.72% |
Annual |
CRISIL AAA |
March 23 2012 |
| PFC |
86-D |
15 |
6 |
8.72% |
Cumulative |
CRISIL AAA |
March 23 2012 |
From what we know till now about the budget, it looks like these bonds will no longer available from next year onwards, and they offer a fairly good yield especially if you are in the 30% tax bracket and haven’t utilized the 80C limit.
If you are interested in investing in them then you can either do so through your online broker like ICICI Direct or go to a collection center near you, fill up the form and submit it there.
If you need the application form then I see that you can download the IFCI application form at the IFCI website, and Shiv has created a link from where you can download the IDFC bond application form. This has his sub – broker code so he will get an incentive if you use this form, but that’s not deducted from whatever you invest, so your Rs. 20,000 investment will get you bonds worth Rs. 20,000.
There is not much to differentiate from one issue from another so you can choose one that suits your needs most – they are all fairly similar as far as infrastructure bonds are concerned.
