2013 - Wealth18.com

Oct72013 by wealth18.comNo Comments

Shriram Transport Finance STFC NCD Oct 2013 – Details & Review

Bonds

Shriram Transport Finance Company (STFC) has opened its public issue of NCDs on 7-Oct-2013 & it closes on 21-Oct-2013 offering 6 investment options with yield upto 11.75%. (Closed early on 14-Oct-2013) This is the second NCD issue of this financial year from STFC, as the company raised Rs. 750 crore from its first issue in July 2013. Type of Instruments – Secured Redeemable NCDs Size of Issue - Rs 250 crore through this issue, with an option to retain oversubscription upto Rs 250 crore, aggregating to a total of upto Rs 500 crore. Listing – Proposed to be listed on NSE & BSE Credit Rating - AA/stable by CRISIL and AA+ by CARE Investment options – Annually / Cumulative Interest for 36 months, 60 months , 84 months About Company STFC is one of the largest asset financin...

Oct22013 by wealth18.comNo Comments

IIFCL Tax Free Bonds Tranche 1 – Oct 2013 – Details

Bonds

Review of - IIFCL Tax Free Bonds - Tranche III - February 2014 India Infrastructure Finance Company proposes to raise upto Rs 500 crore with an option to retain over subscription upto Rs 2,000 crore aggregating to Rs 2,500 crore through tax free bonds issue of secured redeemable non-convertible debentures. (Tranche I) The tax free bonds issue would open from 03-Oct-2013 and closes on 31-Oct-2013 Indian Infrastructure Finance Co Ltd (IIFCL) Tax Free Bonds - Tranche I Details Series I Series II Series III Tenor 10 Years 15 years 20 years Interest Paid Annual Annual Annual Coupon Rate 8.26% 8.63% 8.75% Effective Pre-Tax Yield (30% tax slab) 11.95% 12.49% 12.66% Effective Pre-Tax Yield (20% tax slab) 10.40% 10.87% 11.02% Effective Pre-Tax Yield (10% tax ...

Sep252013 by wealth18.comNo Comments

Form 15CA & 15CB – Revised rules – NRI / Non-resident Payments

News, NRI

As per the revised rule, Form 15CA/CB is APPLICABLE only if a person responsible for paying to a non-resident, any interest or salary or any other sum chargeable to tax under the provisions of the Act. It means, NO CA Certificate in Form 15CB and NO furnishing of Form 15CA to the Income Tax department for any payment or money transfer out of India that is NOT Taxable. As a result, Form 15CA/CB may not be required for the transfer from NRO to NRE or for outward remittance from NRO funds. 2. For the nature of the payments contained in the “Specified List” (nature changed from 39 to 28), No information to be submitted, i.e. No CA certificate in Form 15CB and No Form 15CA. 3. For payment that is taxable but does not exceed Rs. 50,000 or aggregate of payment does not exceed Rs. 250,000 in ...

Sep182013 by wealth18.com1 Comment

FCNR Deposit with Forward Cover / Swap – yield 14% – Should NRIs invest ?

NRI

Following the sharp depreciation of INR in July – Aug 2013, RBI has taken number of steps to stabilise the currency. To attract foreign currency, interest rate on FCNR Deposits is increased by 1% for tenure of 3-5 years deposits. Earlier, for FCNR deposits for 3-5 years, Banks could offer LIBOR + 3%, now they can offer LIBOR + 4% RBI has also allowed banks to increase NRE FD Rates for tenure of 3 years or more. Read my other article - Comparison of NRE FD Rates April 2014 Structured Product for NRIs - FCNR Deposit with Forward Cover / Swap Many banks are offering a structured product combining FCNR Deposit and Forward Cover and offering a yield of 14%, which is risk free & tax free. If you have NRE Account with bank, you might have received similar mailer from them. 14% yield… risk ...

Sep162013 by wealth18.comNo Comments

HUDCO Tax Free Bonds Tranche 1 – Sep 2013 – Details

Bonds

Housing and Urban Development Corporation (Hudco) is targeting to raise up to Rs 4810 crore through the second tranche of its public issue of tax-free bonds.The Finance Ministry has allowed Hudco to raise Rs. 5,000 crore through bonds during 2013-2014, of which Rs. 191 crore has been raised last month through private placement to institutional investors. The tax free bonds issue would open from 17-Sep-2013 and close on 14-Oct-2013 The issue size is Rs 750 crore with an option to retain oversubscription up to Rs 4810 crore CARE has given credit rating of 'CARE AA+' while IRRPL has given 'IND AA+ HUDCO Tax Free Bonds Details Series I Series II Series III Tenor 10 Years 15 years 20 years Interest Paid Annual Annual Annual Coupon Rate 8.39% 8.76% 8.74% Effective Yield ...

Sep132013 by wealth18.comNo Comments

India Infoline (IIFL) NCD Sep 2013 – Details & Review

Bonds

India Infoline is raising Rs 1050 crores through issue of debentures offering 12% for 3 & 5 years tenure. Issue open & Close : 17th Sep to 4 Oct 2013 Type of Instruments – Secured & UnSecured Redeemable NCDs Size of Issue - Rs 525 crore through this issue, with an option to retain oversubscription upto Rs 525 crore, aggregating to a total of upto Rs 1050 crore. Listing – Proposed to be listed on BSE / NSE Credit Rating – CARE AA by CARE & BWR AA by Brickwork Investment options – Monthly / Annually / Interest for 3 years & 5 years About Company IIFL is a subsidiary of India Infoline Limited (“IIFL”), a diversified financial services company. It is a non-deposit taking NBFC focusing on Mortgage Loans, Commercial Vehicle Finance, Gold Loan, Capital Market Finance and H...

Sep92013 by wealth18.comNo Comments

SREI Infra Finance NCD Sep 2013 – Details & Review

Bonds

SREI Infrrastructure Finance has opened its public issue of NCDs on 26 Aug 2013 and it closes on 17-Sep-2013 Type of Instruments – Secured Redeemable NCDs Size of Issue - Rs 200 crores Listing – Proposed to be listed on BSE Credit Rating - AA-/negative by CARE and AA by BRICKWORK Investment option – Monthly / Annually / Cumulative Interest for 3 yrs, 5 yrs & 6 years About Company SREI is a Public Financial Institution (PFI). The company provides financial services to its customers engaged in infrastructure development and construction, with particular focus on power, road, telecom, port, oil and gas and special economic zone (SEZ) sectors in India with a medium to long term perspective. Total income on a standalone basis for the period ended March 31, 2013 and March 31, 2012 stood a...

Sep92013 by wealth18.comNo Comments

Muthoot Finance NCD Sep 2013 – Details & Review

Bonds

Muthoot Finance has opened its public issue of NCDs on 2-Sep-2013 & it closes on 16-Sep-2013 offering 11 investment options with yield upto 12.55% Type of Instruments – Secured & UnSecured Redeemable NCDs Size of Issue - Rs 150 crore through this issue, with an option to retain oversubscription upto Rs 150 crore, aggregating to a total of upto Rs 300 crore. Listing – Proposed to be listed on BSE Credit Rating - AA-/negative by CRISIL and AA-/negative by ICRA . Investment options – Monthly / Annually / Cumulative Interest for 24 months, 36 months, 60 months , 72 months About Company Muthoot Finance is the largest gold financing company in India in terms of loan portfolio. The company provides personal and business loans secured by gold jewellery, or gold loans, primarily to indivi...

Aug282013 by wealth18.comNo Comments

REC Tax Free Bonds – Aug 2013 – Details

Bonds

State-run Rural Electrification Corp (REC) plans to raise Rs. 3,500 crore from the market which is inclusive of the green-shoe option of Rs. 2,500 crore. The issue is open on 30-Aug-2013 & expected to be oversubscribed and will perhaps end before its schedule closing date of 23 September, 2013. Issue Open on 30-Aug-2013 Issue Closes on 23-Sep-2013 (First-come-first-serve) CRISIL, CARE, India Ratings and ICRA have given the high 'AAA' rating to the bonds. What is the interest rates offered on these REC tax free Bonds? Options Series 1 Series 2 Series 3 Tenure 10 years 15 years 20 years Coupon rates (retail individual investors) 8.26% 8.71% 8.62% Effective yield - 30.9% tax bracket 11.95% 12.60% 12.47% Effective yield - 20.6% tax bracket 10.40% 10.97% 10.86...

Jul312013 by wealth18.comNo Comments

Last date for filing income tax returns ITR for AY 2013-2014 extended to August 5 2013

News

The government has today extended the last date for filing of income tax returns by 5 days to August 5 2013. The due date, which was today, has been extended in wake of "unprecedented surge" in number of I-T returns being filed electronically. "As a measure of taxpayers convenience, it has been decided to extend the due date of filing of returns from July 31, 2013 to August 5, 2013," the finance ministry said. This year till July 30, about 92 lakh returns have been electronically filed, which is 46.8% higher than the returns e-filed during the corresponding period last fiscal. Source: TOI