The IDFC (Infrastructured Development Finance Company) announced the public issue of its tax-saving infra bond. It is a long-term infrastructure bonds.
Now, the bond issue is open for subscription- until December 6, 2011 for retail investors. The 5 year issue carries a coupon of 9%.
This issue is the first tranche of bonds from the infra firm. IDFC seeks to raise up to Rs. 5,000 crore through infra bonds in the current financial year (2011-12).
In the past financial year, IDFC had raised Rs 1,451 crore from 7,30,000 retail investors.
IDFC had posted net profit of Rs. 524 crore for the September quarter, up 55% over the same period last year. It's total income rose 41% to Rs 1,715 crore in the same period, up from Rs 1,217 crore.
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