Indian
Railway Finance Corporation (IRFC) has decided to issue tax-free bonds to fund
rail construction projects. The railways' financing arm proposes to issue
secured, redeemable, non-convertible bonds of Rs 1,000 face value each in the
nature of debentures, aggregating to Rs 3,000 crore.
Minimum
purchase: 10 bonds, and thereafter in multiples of 5 bonds.
The
bonds are to be listed on NSE & BSE. The issue opens on January 27 and
closes on February 10.
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