IRFC eyes Rs 1,000 cr from bonds
Bhubaneswar : The Indian Railway Finance Corporation (IRFC) is hopeful of raising Rs 1,000 crore from the recent issue of capital gains bonds, its MD S K Pattanayak said on Sunday. 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 the PTI.
Stating that the IRFC opened the issue on November 10, Pattanayak said the bonds have a lock-in period of three years and yield an interest of 5.25% per annum at present, which is payable on October 15 every year. The IRFC bonds enjoy benefits provided under Section 54EC of the Income Tax (I-T) Act, 1961, he added. The IRFC is among the four institutions authorised by the Finance Ministry to issue such bonds. The others are the NHAI, the REC and the PFC. “
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