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Mar 08, 2013, 07.12 PM | Source: Moneycontrol.com

Ennore Port to raise Rs 500 cr via tax free bonds

Ennore Port's tax free secured, redeemable, non-convertible bonds issue of Rs 500 crore of face value of Rs 1000 each opened for subscription on February 28, 2013.

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Ennore Port to raise Rs 500 cr via tax free bonds

Ennore Port's tax free secured, redeemable, non-convertible bonds issue of Rs 500 crore of face value of Rs 1000 each opened for subscription on February 28, 2013.

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Ennore Port's tax free secured, redeemable, non-convertible bonds issue of Rs 500 crore of face value of Rs 1000 each opened for subscription on February 28, 2013. 

Company also has an option to retain oversubscription upto Rs 500 crore , aggregating to Rs 1,000 crore.

Coupon rate for retail investors and HUFs (which are applying for an amount aggregating up to and including Rs 10 lakh across all series of bonds in the issue) is fixed at 7.51 percent in case of series 1 and 7.67 percent in case of series 2. For other investors, the coupon rate fixed at 7.01 percent and 7.17 percent in case of series 1 and 2, respectively.

Bids can be made for minimum 5 bonds across both series of bonds and in multiples of 1 bond thereafter. Interest payment will be received by investors on annual basis.

Redemption of bonds will take place after 10 years and 15 years from the deemed date of allotment in case of series 1 and 2, respectively.

Bonds are proposed to be listed on the Bombay Stock Exchange. The issue will close on March 15, 2013.

IDFC Capital Limited, A K Capital Services Limited and SBI Capital Markets Limited are lead managers to the issue.

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Ennore Port to raise Rs 500 cr via tax free bonds

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