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NHPC Tax Free Bonds – Oct 2013 – Details

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National Hydroelectric Power Corporation ( NHPC ) has hit the debt market with Rs 1000 crore TAx free bonds. After REC, HUDCO, IIFCL,PFC this is the another Tax free bond issue in 2013-2014.
The tax free bonds issue would open from 18-Oct-2013 and close on 11-Nov-2013
The issue is AAA rated by CRISIL, ICRA, CARE highest safety rating
NHPC Tax Free Bonds (Tranche 1)
Details Series 1B Series 2B Series 3B
Tenor 10 Years 15 years 20 years
Interest Paid Annual Annual Annual
Coupon Rate 8.43% 8.79% 8.92%
Effective Pre-Tax Yield
(30% tax slab)
12.20% 12.72% 12.91%
Effective Pre-Tax Yield
(20% tax slab)
10.62% 11.07% 11.23%
Effective Pre-Tax Yield
(10% tax slab)
9.40% 9.80% 9.94%
Minimum Application Rs 5000
Maximum Application Rs 10 lacs ( Retail)
Issue Opens on 18-Oct-13
Issue Closes on 11-Nov-13

About the Company

NHPC is the largest hydro power generating company in the country with a total aggregate generation capacity of 4,024 MW as on March 31, 2013. The total generation capacity including capacity of its subsidiary NHDC Ltd stood at 5,544 MW representing nearly 14% of aggregate hydro power capacity of India as on March 31, 2013. It plans to add over 10,000 MW of hydropower capacity by the end of XII plan (year 2017). Net sales and operating profit of the company are expected to grow at a CAGR of 4 percent and 5 percent over 2012 to 2015E respectively.
The paid-up capital of the company of 31st March 2013 stands at Rs 12,300.74 crore. Its net-worth is Rs 27,840.50 crores. Sales realisation during 2012-13 was Rs 5,369 crore as against Rs 4,415 crore during 2011-12. It reported more than 7 percent increase in net profit at Rs 719.93 crore for the first quarter ended June 30, 2013 versus Rs 669.81 crore a year-ago. Total income climbed to Rs 1,619.73 crore in the June quarter from Rs 1,424.45 crore in the same period a year ago.

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.
  • 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
  • NRI Investment: Non-US NRIs can also invest in this issue. They can apply for these bonds both on repatriation basis as well as non-repatriation basis.

 Download the Form

You can download the Form from NHPC 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 NHPC Tax free Bonds

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

https://mis.karvycomputershare.com/ipo/

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