HUDCO bonds issue making headways

HUDCO has already raised Rs 1585 crore of the targeted Rs 4809 crore

GN Bureau | September 26, 2013



According to the Bombay stock exchange website, Housing and Urban Development Corporation's (HUDCO) tax free bonds issue, targeted to raise up to up to Rs 4809 crore, has already garnered Rs 1585 crore.

According to a news report in the Financial Express, HUDCO’s bonds have a coupon rate of 8.14% for 10 years, 8.51% for 15 years and 8.49% for 20 years for corporates, qualified institutional buyers and high net worth individuals applying for bonds more than Rs 10 lakh.

The finance ministry has allowed HUDCO to raise Rs 5000 crore through tax free bonds and the company raised Rs 190 crore through private placements last month.

The government has allowed 13 public sector institutions to raise Rs 48,000 crore through tax free bonds in 2013-14 to meet their infrastructure investment needs.
 

 

Comments

 

Other News

When Nandini Satpathy told Biju Patnaik: ‘I’ll sit on the chair you are sitting on’

Nandini Satpathy: The Iron Lady of Orissa By Pallavi Rebbapragada Simon and Schuster India, 321 pages, Rs 765

Elections 2024: 1,351 candidates in fray for Phase 3

As many as 1,351 candidates from 12 states /UTs are contesting elections in Phase 3 of Lok Sabha Elections 2024. The number includes eight contesting candidates for the adjourned poll in 29-Betul (ST) PC of Madhya Pradesh. Additionally, one candidate from Surat PC in Gujarat has been elected unopp

2023-24 net direct tax collections exceed budget estimates by 7.40%

The provisional figures of direct tax collections for the financial year 2023-24 show that net collections are at Rs. 19.58 lakh crore, 17.70% more than Rs. 16.64 lakh crore in 2022-23. The Budget Estimates (BE) for Direct Tax revenue in the Union Budget for FY 2023-24 were fixed at Rs. 18.

‘World’s biggest festival of democracy’ begins

The much-awaited General Elections of 2024, billed as the world’s biggest festival of democracy, began on Friday with Phase 1 of polling in 102 Parliamentary Constituencies (the highest among all seven phases) in 21 States/ UTs and 92 Assembly Constituencies in the State Assembly Elections in Arunach

A sustainability warrior’s heartfelt stories of life’s fleeting moments

Fit In, Stand Out, Walk: Stories from a Pushed Away Hill By Shailini Sheth Amin Notion Press, Rs 399

What EU’s AI Act means for the world

The recent European Union (EU) policy on artificial intelligence (AI) will be a game-changer and likely to become the de-facto standard not only for the conduct of businesses but also for the way consumers think about AI tools. Governments across the globe have been grappling with the rapid rise of AI tool

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now


Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter