9 Companies Aim to Mobilize Rs.26,300cr Using Tax Free Bonds

Bangalore: Nine companies which belong to the infrastructure and infrastructure finance sectors are attracting investors to wipe up about Rs.26, 300 crore through long-term, tax-free bonds issues, offering rates of interest as high as 7.8 percent per annum. Though the market experts are not sure if all these companies can pull out the target amount, financial planners and advisors say that these bonds are the best risk free long term bonds in which Indian investors can blindly invest their money for now.

The companies which are available with all the issues in the market at present are, India Infrastructure Finance Co ( IIFCL), Power Finance Co ( PFC), National Housing Bank ( NHB), Indian Railway Finance Co (IRFC), Housing & Urban Development Corp ( HUDCO), Rural Electrification Corp ( REC), Jawaharlal Nehru Port Trust ( JNPT), Ennore Port and Dredging Corp of India. Only IRFC, which aims to raise Rs.3, 513 crore including the oversubscription amount is not available as it is closing soon.

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