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Indian Railway Finance Corporation Ltd - PUBLIC ISSUE OF TAX FREE BONDS

TERMSHEET – TAX FREE BONDS OF INDIAN RAILWAY FINANCE CORPORATION LTD

Issuer Indian Railway Finance Corporation Ltd.
Issue size Rs. 3000 Crores with an option to retain oversubscribing of Rs. 3300cr.
Rating "CRISIL AAA/Stable" by CRISIL, "CARE AAA" by CARE and "ICRA AAA by ICRA
Face Value Rs. 1000 per bond
Minimum Application Rs. 10000 in multiples of Rs. 1000
Tenor 10 Yrs 15 Yrs
Coupon (HNI, Corp. & QIB) 8.00% p.a. 8.10% p.a.
Coupon (Retail & HUF) 8.15% p.a. 8.30% p.a.
Interest on application 8.00% p.a.
Interest on refund 4.00% p.a.
Interest payment Payable Annually only
Depositories National Securities Depository Limited and Central Depository Services
(India) Limited
Issuance Dematerialized form or Physical form as specified by an Applicant in the
Application Form.
Trading Dematerialized form only following expiry of the Lock-in Period
Listing & Trading Proposed to be listed on NSE and BSE, Trading only in Demat Form
Issue Opening Date 27th January 2012
Issue Closing Date 10th February 2012
Basis of Allotment First come first serve basis or Pro rata basis, to be decided

Category I Category II Category III
Upto 45% of Overall Issue Size* Upto 25% of Overall Issue Size* Upto 30% of Overall Issue Size*
*On first come first serve basis to be determined on the basis of date of receipt of applications duly
acknowledged by the Bankers to the Issue

  • The income by way of interest on these Bonds is fully exempt from Income Tax and shall not form part of Total Income as per provisions under section 10 (15) (iv) (h) of IT Act.
  • There will be no deduction of tax at source from the interest, which accrues to the bondholders on these bonds Irrespective of the amount of the interest or the status of the investors.
  • Wealth Tax is not levied on investment in Bonds under section 2(ea) of the Wealth-tax Act, 1957.

  • Financing arm of the Indian Railways.
  • Notified as a Public Financial Institution under Section 4A of the Companies Act, 1956.
  • Consistently profit making Public Sector Undertaking.
  • Consistently rated 'AAA' by CRISIL, ICRA and CARE.
  • Net Profit after tax as on 30th Sept 11 is 201.52 crs and it stood at Rs. 485.20 crores for year ended 31st March 2011 compared to Rs. 442.69 crs in 31st March 2010.
  • 100% shareholding held by Government of India.
  • Registered as an NBFC-ND-IFC (Infrastructure Finance Company) with Reserve Bank of India.

Particulars (Rs lac.) FY10 FY11
Net Revenue 348393.7 384165.2
PAT 44269.07 48520.4
PAT (%) 12.71% 13%
Share Capital 109100 160200
Reserves & Surplus 231448 268396.6
Net Worth 340548 428596.6
Total Debt 566387.7 686774
Debt/Equity (x) 1.66 1.60


Applications cannot be made by:
  • Minors without a guardian name
  • Foreign nationals
  • Persons resident outside India other than NRIs
  • Overseas Corporate Bodies


Address: Asit C. Mehta Investment Interrmediates Ltd. Nucleus House, Saki-Vihar Road, Andheri (E), Mumbai 400 072, Maharashtra, India.
Telephone: + 91-22-28583333, + 91-22- 66798315, + 91-22- 28577898 Fax: +91-22-28577647
SEBI/ Regulatory Registration Nos.: BSE:INB/INF 010607233 NSE:INB/INF/INE 230607239. Merchant Banking: INM000010973 DP Reg: IN-DP-CDSL-28-99 DP ID - CDSL 12013200
© Copyright 2009. Asit C.Mehta Investment Interrmediates Ltd. (ISO 9001:2008 Certified Company)