Indian Railway Finance Corporation (IRFC) is hopeful of raising Rs 1,000 crore from the recent issue of capital gains bonds, its Managing Director S K Pattanayak said today.
With an aim to raise Rs 500 crore with the green shoe option to retain over-subscription, IRFC is looking at mopping up Rs 1,000 crore from the capital gains bonds, he told PTI here.
Stating that IRFC opened the issue on November 10, Pattanayak said the bonds have a lock-in period of three years and presently yields an interest of 5.25 per cent per annum, payable on October 15 every year.
The bonds have benefits under Section 54EC of the Income Tax Act, 1961, he said.
IRFC is among the four institutions authorised by the Union Finance Ministry to issue such bonds. The other three non-banking financial companies are NHAI, REC and PFC.
-->IRFC hopeful of raising Rs 1,000 crore from capital gains bonds
Indian Railway Finance Corporation (IRFC) is hopeful of raising Rs 1,000 crore from the recent issue of capital gains bonds, its Managing Director S K Pattanayak said today.
With an aim to raise Rs 500 crore with the green shoe option to retain over-subscription, IRFC is looking at mopping up Rs 1,000 crore from the capital gains bonds, he told PTI here.
Stating that IRFC opened the issue on November 10, Pattanayak said the bonds have a lock-in period of three years and presently yields an interest of 5.25 per cent per annum, payable on October 15 every year.
The bonds have benefits under Section 54EC of the Income Tax Act, 1961, he said.
IRFC is among the four institutions authorised by the Union Finance Ministry to issue such bonds. The other three non-banking financial companies are NHAI, REC and PFC.
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