As you know IDFC Infrastructure Bonds issue was started from September 30th and will be closed on October 22nd. You will need to pay the entire subscription amount at the time of submitting applications. If you are not allotted any bonds/ or partially allotted the company would refund the money.
The bankers to the issue are
HDFC Bank
ICICI Bank
Kotak Bank
IDBI Bank
Citibank
Axis Bank
Indusind Bank
Dhanlaxmi
You can walk out to the designated banks and fill up the application forms. Please contact the bank branches for full details.
The Brokers to the issue are
Kotak Securities Limited
Enam Securities Private Limited
Sharekhan Limited
JM Financial Services Private Limited
ICIC Securities Limited
RR Equity Brokers (P) Limited
SMC Global Securities Limited
Bajaj Capital Limited
Almondz Global Securities Limited
HDFC Securities Limited
NJ India Invest Private Limited
Karvy Stock Broking Limited
If you have an account with any of the above brokers, you can apply online. Once allotted, the bonds will come to your DP account in dematerialized form.
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Sathish Emmadi
Sathish Emmadi is a co-founder & editor at Lastbull.com. He is presently working in IT for one of the world’s top mutual fund companies. Handled multiple projects in BFSI (Banking,Financial Services and Insurance) domain. An Engineering Graduate from NITW.
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{ 20 comments… read them below or add one }
i want buy L&T infrastructure baons
i want to buy sbi infrastructure bonds. when is the scheduled date?
Do we need to have a demat account for it?
SBI is not eligible to issue infrastructure bonds which attract tax benefit to investors. Its normal bond issue got closed some time in October.
http://lastbull.com/state-bank-of-india-sbi-bonds-oversubscribed-17-times/
want to buy sbi infrastructure bonds. when is the scheduled date?
Do we need to have a demat account for it?
IFCI infrastructure bond is closing on december 31 2010. It is a very good opportunity to claim tax exemption on additional Rs 20,000. Infra bond is better option than SIP for 5 years.
sir i want 2 become broker for bonds what is procedure?
Hi Bharat,
You can contact one of the main banks (I suggest HDFC, as it is the banker for all most all infrastructure bonds issues which have come up so far) to become an agent. They will tell you the details.
Dear SIr,
i want buy a infrastructure bond.what is the procedure & which is the best.
Pl advise me.
With regards
dbrao
Mr. Rao: IDFC infrastructure bonds are available in 2 modes, one with an annual payament option and another with cumulative option. Both options offer an interest rate of 8% and have a minimum lock in period of 5 years. If you require yearly payouts, choose option A, else if you can choose option B. For your conveinience I have elaborated below payout structure under the 2 options for a sum of Rs.10,000:
Option A
Investment: Rs. 10,000/-
Yearly Payout: Rs. 800/- every year
Value of Bond after 5 years: Rs. 5000/-
Value of Bond after 10 years: Rs. 5000/-
Option B
Investment: Rs. 10,000/-
Yearly Payout: —nil—
Value of Bond after 5 years: Rs. 14,693/-
Value of Bond after 10 years: Rs. 21589/-
In both cases tax exemption availed will be Rs. 10,000/-.
I hope the above will satisfy most of your queries.
For purchase or any other query, feel free to contact:
Inderjeet Bhatnagar
Goldleaf Investments
(022) 28958733
Dear Mr. Inderjeet,
Thanks for your post and it has helped in understanding the IDFC bonds.
Further to this, for investing in these bonds, is DEMAT account a neccessity?
I do not have a DEMAT account, if I have to open an account, which bank is better in these (DEMAT) services.
Thanks
Uday
Uday: My apologies for this late response.
If you do not have a DEMAT account, you can take the bonds in physical format. Here you will get a bond certificate, just like we have the KVP and NSC’s.The tax exemptions on DEMAT and Physical format is the same, and interest payments will be made through ECS in both cases.
You can recieve the bonds in physical format by following these instructions:
Do not enter any details in the “Depository Participant” section of the application blank and tick mark the “BONDS IN PHYSICAL FORMAT” box.
After that submit these documents along with the application:
Self attested copies of
PAN card
Address Proof
Cancelled cheque from your account.
In this way you will recieve a bond certificate from IDFC.
For purchase or any other query, feel free to contact:
Inderjeet Bhatnagar
Goldleaf Investments
(022) 28958733
Dear Mr. Inderjeet,
If i have DEMAT account, still bonds will be sent through physical form or you demat account will hold these details and no need of physical form. Please advise on this.
Thanks,
Sobhan
I purchased IDFC bonds and deposited cheque on feb 5, 2011. Now the cheque got cancelled due to account no not mentioned on the cheque.
IDFC has acknowledged this fact on april 11. I am left with no option now. Pls suggest what to do now.
Anita
Hi Anita,
I think you don’t have any option now. They will allot you bonds only if the cheque gets cleared. Last date is over now.
If I get the bonds in Demateralized form in my demat account, how do I claim tax benefit on the same?
I have not understood the concept of submitting cancelled cheques from my account. kindly clarify
regards
Priti
I have a demat account in india infoline how can i buy infrastructure bond
by online
open dematt a/c with icici in pune
Open Demat,trading&saving a/c in icici direct 07620589957
pl inform how to get application form for invest in IDFC since last date
is 25.2.2012 kindly send us as earliest to my e-mail id.
thanks