Thursday, July 25News That Matters

Ennore Port Tax Free Bonds – Feb 2014 – Details


Ennore Port  is targeting to raise up to Rs 500 crore with an option to retain over-subscription up to Rs.750 crore.  It has AA Credit Rating.

The issue is open from 18-Feb-2014  to 14-Mar-2014 . However, it may close early, depending on response. 


Ennore Port  Tax Free Bonds 
Details Series I Series II Series II
Tenor 10 Years 15 years 20 years
Interest Paid Annual Annual Annual
Coupon Rate 8.61% 9.00% 9.00%
Effective Pre-Tax Yield
(30% tax slab)
12.46% 13.02% 13.02%
Effective Pre-Tax Yield
(20% tax slab)
10.84% 11.34% 11.34%
Effective Pre-Tax Yield
(10% tax slab)
9.60% 10.03% 10.03%
Minimum Application Rs 5000
Maximum Application Rs 10 lacs ( Retail)
Issue Opens on 18-Feb-14
Issue Closes on 14-Mar-2014 (May close early)

About the Company

Ennore Port is a public sector enterprise in which the Ministry of Shipping, GoI holds 66.67% stake and the rest 33.33% stake is held by the Board of Trustees, Chennai Port Trust.

During 2012-2013, Operating revenues of Rs. 320.21 crore and net profit of Rs. 173.37 crore

During 2011-2012, Operating revenues of Rs. 248.64 crore and net profit of Rs. 96.72 crore

Other Important Points

  • Investors can choose to apply in demat as well as physical form. Demat account is not mandatory. However, if you want to sell/trade these bonds before maturity, it is mandatory to have a demat account. You can subscribe to them in physical form as well and keep them till maturity.
  • Interest will get credited to your linked bank account through ECS.  The interest payment date is not yet fixed but the first due interest will be paid after 1 year from the deemed date of allotment.
  • NRI Investment: Non-Resident Indians (NRIs) and Qualified Foreign Investors (QFIs) are NOT eligible to invest in this issue.
  • The allotment will be made on a “first-come-first-served” basis. Allotment will be done within 12 working days from the closing date of the issue.
  • Bonds will be listed on NSE & BSE

Download the Form

You can download the Form from Ennore Website.

Taxation Aspects of Tax FREE Bonds

Read my Post –  Taxation Aspects of Tax free Bonds?

Merits & Demerits of Tax free Bonds

Read –  Tax free Bonds – Should you invest in these?

Allotment Status of Ennore Port Tax free Bonds

Youc an check the Allotment status of your Ennore Port Tax free Bonds application at link below by entering application number / PAN number:

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