IFCI Tier II subordinate Bonds – Series I (01-June to 15th July-11)
04-June-11
Dear All – Some of the FAQ’s reply as given below
Ø Issue Size and offer: 1,50,000 subordinated unsecured, redeemable , non convertible bonds series I of 10000 each
Aggregating to Rs. 150 crores with green shoe option to retain oversubscription (of any amount)
Ø Basis of allotment
A. Full allotment of bonds to the applicants on a first come first basis upto the issue closing date or the date falling one day prior to the oversubscription date, whichever is earlier.
B. For applications received on the oversubscription date, the bonds shall be allotted in the following order of priority
Allotment to the applicants for option – I bonds
Allotment to the applicants for option – II bonds
Allotment to the applicants for option – III bonds
Allotment to the applicants for option – IV bonds
C. All applications received after the oversubscription date shall be rejected.
Ø Beginning on the issue opening date and until the day immediately prior to the issue closing date, full and final allotment against all valid applications for the bonds will be made to applicants on a first –come – first served basis, subject to a limit of the issue size aggregating to Rs. 150 crore and including the unspecified Green shoe option, in accordance with applicable laws. At its sole discretion, IFCI (the issuer) will decide the amount of over-subscription to be retained over and above the basic book size of Rs. 150 crore.
Ø Interest on application and refund money: The Company shall not pay any interest on refund of application amount, in whole or part. However, interest on application money to the extent of allotment of bonds, shall be paid from the date of credit of his money to IFCI account of IFCI to the date immediately preceding the deemed date of allotment at the respective coupons rates.
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Ø Proposed Listing on BSE: This is to inform that as per the information memorandum received from the issuer IFCI Ltd. and discussion held with BSE it has been conveyed that the bonds shall be listed on WDM segment of BSE (being private placement issue) in the market lot of Rs. 1 lac i.e. 10 bonds. However the same shall be officially confirmed once the listing approval is granted by BSE post closure of the issue.
Ø Please note the categories for the payment of arranger fee are as under: •
Commercial Banks (include RRBs), Financial Institutions and Corporates. (Max. 0.10% on allotment amount)
'Others' include entities other than those mentioned above, viz. Individuals, HUFs, and Retirement Funds, Charitable Trusts, Co-operative Banks, PF and gratuity, trusts charitable trusts etc
