IDFC's Rs3,400-crore infrastructure bond issue extended till 21 March
15 Mar 2011
Infrastructure Development Finance Company Ltd (IDFC) has extended the closure of its Rs3,400-crore bond issue by five days from its scheduled closure date of 16 March.
The issue of Rs5,000 face value tax-free bonds, which opened for subscription on 28 February 2011, will now close on 21 March 2011, the company said in a filing with the Bombay Stock Exchange (BSE).
IDFC had come out with long-term infrastructure bonds of face value of Rs5,000 each, totalling Rs3,400 crore, in the form of secured, redeemable, non-convertible debentures, having income tax benefits under Section 80 CCF.
The bonds were to be issued in one or more tranches subject to the overall limit of Rs3,400 crore for the financial year 2010-11 as per the shelf prospectus filed with the stock exchanges and the SEBI on 23 September 2010, IDFC said in a corrigendum filed with BSE.
The third tranche of the bonds for an amount not exceeding Rs2,171.67 crore would be issued on the terms set out in the prospectus dated 21 February 2011 filed with the registrar of companies Tamil Nadu.
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