DCIL Tax Free Bond – Issue Mar 2013
Dreging Corporation of India Tax Free Bond – Issue details
Dredging Corporation of India Ltd (DCIL) is aiming to raise Rs.500 crore through a tax-free bond issue.
The government-owned company, which provides integrated dredging services to ports and shipyards in India and the Indian NavyThe issue will close on March 15.
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[wptabtitle] Product Note[/wptabtitle] [wptabcontent]Issue Highlight –
Issuer Dredging Corporation of India Ltd (DCIL) Type of Instrument Secured, Redeemable, NCD Issue Open 07, Mar, 2013 Issue Close 15 Mar 2013 Issue Size 500 Cr Face Value Rs. 1,000 Min. Application Size 5 Bonds (Rs.5000) & multiply of 1 Bond thereafter Interest Annual Mode of Allotment D'mat & Physical Form Rating AA by CARE, AA+ by BWR Listing BSE
Issue Structure –
Options Series 1 Tenor 10 years Coupon Rate % Category - I, II, III 6.97% Category - IV (Retail) 7.47%*
*Additional Interest of 0.50% p.a. shall only be available to the original Allottees under category IV. In the event of Sold/transfer , the Coupon rate shall stand revised to the coupon rate applicable for allottee falling under Category I, II , III.
Retail Investor :
Bankers : [/wptabcontent]
[wptabtitle] About Issue[/wptabtitle] [wptabcontent]
About the Issuer
Dredging Corporation of India Ltd was established in the year of 1976 to provide dredging services to the Major port of the country in India. DCI is a pioneer organization in the field of dredging and maritime development.
- DCI is schedule B & MINI RATNA Category I – Public Sector Enterprise
- DCI is an M. O. U. signing company with Govt. of India
Benefit to Investor
- The Income by way of Interest on these Bonds is fully exempt from Income Tax as per provision under section 10(15) (iv) (h) of IT act.
- No TDS
- Capital Gain Benefit – capital gain arising on the transfer of listed bonds shall be taxed @ 10% without Indexation or @20% with Indexation.
[wptabtitle] Allotment/Listing[/wptabtitle] [wptabcontent]
Registrar of Issue :
Karvy Computershare Pvt. Ltd
Listing on : BSE
Listing Details :
Tax Free Bond Dredging Corporation Ltd Issue Open 11 Mar 2013 Issue Close 15 Mar 2013 Issue Registrar Karvy Computershare Listing Exchange BSE NSE Script Code BSE Script Code 961761 BSE Script ID 697DCI2023 Coupon Rate 6.97% (Additional .50% interest extra for Retail Investor) Allotment Date Mar 28, 2013 Listing Date Apr 2, 2013 ISIN No INE506A07015 (10 Yr Bond) Maturity Date 28 Mar 2023 (10 yrs) Interest Payment Date 28 Mar 2014 (every year 28 mar) Face Value 1000
NSDL & CDSL
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