Indian Railway Finance Corporation Limited, dedicated financing arm of the Ministry of Railways (MoR), will open its Public Issue of tax free, secured, redeemable, non-convertible bonds of face value of Rs 1,000 each in the nature of debentures on January 21, 2013. The issue is worth Rs. 10,000 crores, during the Fiscal 2013. This tranche issue by the company is of bonds aggregating to Rs 1,000 crore with an option to retain oversubscription up to the Shelf Limit (i.e., up to Rs 8,886.40 crore).
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The funds raised through this issue will be...
more... utilized towards financing the acquisition of rolling stock which will be leased to the MoR in line with present business activities.
The Bonds are proposed to be listed on BSE Limited and National Stock Exchange of India Limitedwithin 12 working days of the Issue closing date.
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SBI Capital Markets Limited, A.K. Capital Services Limited, Axis Capital Limited, ICICI Securities Limited and Kotak Mahindra Capital Company Limited are the Lead Managers to the Issue. Karvy ComputersharePvt. Ltd. is the Registrar to the Issue, while SBICAP Trustee Company Ltd. is Trustee for the Bondholders.