NHAI Bonds: Earn up to 7.60% Per Annum Tax Free

Written on Saturday, December 12, 2015
By Mohit Mittal- AVP & Head Fixed Income, Bajaj Capital Ltd.

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Missing golden opportunities is not a wise idea, and if an opportunity of tax free income knocks your door, you cannot afford to let it go. If you failed to subscribe for previous issues of tax free bonds, don’t worry, National Highways Authority of India (NHAI) has announced its public issue of 10,000 Crores. NHAI is a public sector enterprise under ministry of road transport and highways, government of India. This public sector enterprise is responsible for the development, maintenance and management of National Highways entrusted to it and for matters connected or incidental thereto.

The issue will open for subscription on 17th December 2015 with an issue price of Rs. 1000 per bond. Minimum of 5 bonds will be accepted individually or collectively. Allotment of bonds will be made on first come first serve basis. Making it attractive the bonds are proposed to be listed on BSE. Interest amount would be paid to investor on 1st April every year.

 

Interest Rate Matrix

 

 

Category Wise Allocation

 

Credit Ratings

The bond comes with AAA rating from major credit rating agencies. ICRA has rated NHAI bonds as AAA stable, while CRISIL and CARE have rated it as AAA. According to IRRPL this bond is IND AAA. 

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