Product Updates

REC Tax Free Bonds Public Issue opens on 27th Oct 2015.   Allotment on First Come First Serve Basis.   Interest Rates: For Retail Individuals (upto Rs. 10 Lacs) 10 Years : 7.14% p.a. 15 Years : 7.34% p.a. 20 Years : 7.43% p.a.   For Non-Retail: 10 Years : 6.89% p.a. 15 Years : 7.09% p.a. 20 Years : 7.18% p.a.   Issuance in Physical and Demat mode Listing BSE & NSE Rating CRISIL AAA/ Stable' by CRISIL, '[ICRA] AAA' by ICRA,'CARE AAA' by CARE, 'IND AAA/ Stable' by India Ratings & Research Private Limited ("IRRPL"). Issue Size Rs. 300 crores with an option to retain oversubscription upto Rs. 400 crores aggregating to total of upto Rs. 700 crores. Download Application Form http://59.144.72.251/IPOPDFGenWeb/brokerOnly.aspx Sent from BlackBerry® on Airtel

REC plans to garner Rs.700 crore via tax-free bonds State-owned Rural Electrification Corporation (REC) plans to raise up to Rs.700 crore through the issue of tax-free bonds this fiscal to meet various funding needs. This is on top of the Rs.300 crore already raised by the company through private placement. REC, leading lender for the power sector, is authorised to raise Rs.1,000 crore via tax-free bonds. As per the draft prospectus filed with markets regulator the Securities and Exchange Board of India (SEBI), the company's public issue of secured redeemable non-convertible bonds would be of face value of Rs.1,000 each, having tax benefits, aggregating up to the shelf limit (Rs.700 crore) by way of issuance of bonds in one or more tranches in the fiscal 2016. "The main objects clause of our Memorandum of Association permits our company to undertake its existing activities as well as the activities for which the funds are being raised through this bond issue," it

NHAI set to tap bond market to fund projects The National Highways Authority of India (NHAI) is all set to hit the bond market to fund its ambitious highway development programme. The highway agency has finalised its plan to issue tax-free bonds next month. "We are coming out with public issue in two tranches. The first tranche for Rs 11,200 crore will come out in October-end. This would be followed by a second tranche for a little over Rs 8,000 crore in January or February 2016," NHAI chairman Raghav Chandra told HT. NHAI has been permitted to raise Rs 24,000 crore through tax-free bonds this fiscal year. It has already raised Rs 3,872 crore through private placement route on September 18. NHAI would require funds to the tune of Rs 70,000 crore this fiscal year to finance its highway expansion. The highways ministry has set a target of awarding 10,000km stretch of highways in 2015-16. Of this 5,000km has to be awarded by NHAI and the rest by the ministry. N