HUDCO Tax Free Bonds 2012

| January 23, 2012 | 7 Comments

Housing and Urban Development Corporation (HUDCO), a Government of India Enterprise,  has filed the Draft Self Prospectus with SEBI and the issue is coming on January 27, 2012. As per the Prospectus the Bonds shall be issued in forms of Tax Free, Secured, Redeemable, Non Convertible Debentures with face value of Rs. 1000 each having Tax Benefits Under Section 10(15)(iv)(h) of the Income Tax Act, 1961, will raise up to Rs 4,685 Crores. The issue will be on ‘first come first serve basis’. The trustee for the bondholders is SBICAP Trustee Company.

NRIs cannot invest in HUDCO bonds but NRI investments are allowed in IRFCL Bonds

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LAST DATE EXTENDED: 10-FEB-2012

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Issuer Housing and Urban Development Corporation Limited
Issue Opening Date 27/01/2012
Issue Closing Date 06/02/2012
Instrument Tax-Free Secured Redeemable Non-Convertible Bonds in the nature of Debentures
Min Application Size Rs 10,000/-
Thereafter in multiples of Rs 1,000/-
Interest on Refund 4% p.a
Interest on application money 8% p.a.
Credit Rating „Fitch AA+ (ind)? by Fitch Limited and „CARE AA+? by CARE
Issue Size Rs. 2,000 Crore with an Green Shoe option (option to retain oversubscription) of up to Rs. 4,684.72 Crore
Security The Bonds proposed to be issued are secured by a floating first pari-passu charge on present and future receivables of our Company to the extent of amount mobilized under the Issue. The Company reserves the right to create first pari-passu charge on present and future receivables for its present and future financial requirements.
Tranche Series-I Series-II
Tenor 10 Years 15 Years
Put Call Option None None
Maturity/ Redemption At par on the expiry of 10th Year from the Deemed Date of Allotment At par on the expiry of 15th Year from the Deemed Date of Allotment
Annual Coupon
Retail Investors (Category III) 8.22% 8.35%
Other Investors (Category I & II) 8.10% 8.20%
Note: The differential rate for retail investor shall be applicable only to the first allottee. In the event of Sale/Transfer by the original allottee of a retail bond, the subsequent allottee will get the rates of the other investors’ category.
Interest Payment Annual Annual
Interest Payment Date The date, which is the day falling one year from the Deemed Date of Allotment in case of first interest payment and the same date, till the date of redemption for subsequent interest payments.
Listing Proposed on BSE Ltd. (“BSE”) and National Stock Exchange of India Ltd. (“NSE”). The Designated Stock Exchange for the Issue is NSE
Trustee SBI Capital Trustee Company Limited

Issue shall remain open for subscription for a minimum of 3 days or such extended period upto a maximum period of 30 days from the date of opening of the Issue. In case of early closure, HUDCO shall ensure that public notice of such early closure is published on or before the day of such early date of closure through advertisement/s in a leading national daily newspaper.

Please find the HUDCO subscription TILL 09-FEB-2012

HUDCO Amt. Collected Allocation % Subscribed
CAT – I

2177

2108

103%

CAT – II

1218

1171

104%

CAT – III

916

1405

65%

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Category: Fixed Deposit, Tax Free Bonds

  • admin

    Subscription on Day 1 – 28-Jan-2012

    HUDCO Tax Free Bonds
    Category % Issue Size (Rs. In Crores) Actual Collected (Rs. In Crores)
    Category I 45% 2108.13 1855.6
    Category II 25% 1171.18 550
    Category III 30% 1405.41 153
    Total 100% 4684.72 2558.6

  • admin

    Please find the subscription figures for HUDCO & IRFC Tax Free Bonds @ EOD 30.01.2012.

    HUDCO Tax Free Bonds

    Category

    %

    Issue Size (Rs. In Crores)

    Actual Collected (Rs. In Crores)

    Category I

    45%

    2108.13

    1942.96

    Category II

    25%

    1171.18

    652.84

    Category III

    30%

    1405.41

    239.63

    Total

    100%

    4684.72

    2835.43

    IRFC Tax Free Bonds

    Category

    %

    Issue Size (Rs. In Crores)

    Actual Collected (Rs. In Crores)

    Category I

    45%

    2835

    10904.57

    Category II

    25%

    1575

    2906.08

    Category III

    30%

    1890

    1166

    Total

    100%

    6300

    14976.65

  • admin

    Please find the HUDCO subscription update EOD 31-Jan-2012.

    HUDCO

    Amt. Collected
    Allocation
    % Subscribed

    CAT – I
    1963
    2108
    93%

    CAT – II
    713
    1171
    61%

    CAT – III
    316
    1405
    22%

    All Values in rupees crore

  • admin

    HUDCO subscription figure EOD 1-Feb-2012

    Amt. Collected
    Allocation
    % Subscribed

    CAT – I
    2002
    2108
    95%

    CAT – II
    834
    1171
    71%

    CAT – III
    392
    1405
    28%

  • admin

    Day 7: 03 Feb 2012

    HUDCO

    Amt. Collected
    Allocation
    % Subscribed

    CAT – I
    2154
    2108
    102%

    CAT – II
    1060
    1171
    91%

    CAT – III
    585
    1405
    42%

    Retail category subscribed 42%. Scheme closing on 06-Feb-2012

  • http://profile.yahoo.com/B22GCSCFK6GJVTGJIEWOZVN54Q Rajender B N

    Thanks for the timely subscription updates. It helped me in investing.

  • http://moneyvriksh.com/ MoneyVriksh.com

    NOTE: ISSUE DATE EXTENDED TO 10-FEB-2012

    Following is the subscription figure till EOD 04-feb-2012
    HUDCO
    Amt. CollectedAllocation% Subscribed
    CAT – I 2157 2108 102%
    CAT – II 1078 1171 92%
    CAT – III 631 1405 45%

    All value in rupees crores