Monday, 1 August 2011

IIISL Debentures (NCD) at 11.90% interest

India Infoline Investment Services Limited, a non-banking financial company and a subsidiary of India Infoline Limited issues secured Non Convertible Debentures (NCDs) @ 11.90% fixed interest for 5 years. Issue opens on Thursday, 04th August, 2011 and closes on Friday, 12th August, 2011.

The maturity period of the debentures is optional for 36 months, 40 months and 60 months. Minimum Application amount is Rs. 5000 for 5 NCDs of all options and the multiples of 1 NCD thereafter. The debentures can be purchased individually or collectively for more than one person. Face value and issue price of one single unit is Rs. 1000.

Interest is payable annually for 36 months and 60 months’ options, but for 40 months option the interest will be paid at the maturity only. You will get annual advance coupons for colleting interest for the interest payable options @ 11.70% to 11.90% per annum as per your option.

The date of redemption is the day at which the concerned tenure is over from the date of allotment. And the redemption amount for 36 months and 60 months option is the face value plus any accrued interest is left over.  But for 40 months option the maturity value is Rs. 1446.18 for each unit.

Tax Deducted at Source (TDS) is not applicable for the interest income of NCD and the NCDs will be listed on NSE & BSE. Demat account is compulsory for purchasing IIISL Non Convertible Debentures.

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