IDFC to issue tax saving bonds
IDFC would issue tax-saving long term infrastructure bonds to raise money from the market to fund infrastructure projects.
Managing director of IDFC Investment Banking Prashant Shetty said that the bonds would carry an interest rate of 9 per cent per annum.
He said that the binds would have a face value of Rs 5000 each and would be issued in one and more tranches not exceeding Rs 5000 crore for the current fiscal.
To a query, he said that IDFC was expecting a disbursal growth of 25 per cent in 2011-12.
Last financial year, IDFC disbursed Rs 14,000 crore towards various infra projects.
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