{"id":44903,"date":"2017-12-24T11:03:02","date_gmt":"2017-12-24T11:03:02","guid":{"rendered":"http:\/\/www.bnreport.com\/irfc-hopeful-of-raising-rs-1000-crore-from-capital-gains-bonds\/"},"modified":"2017-12-24T11:03:03","modified_gmt":"2017-12-24T11:03:03","slug":"irfc-hopeful-of-raising-rs-1000-crore-from-capital-gains-bonds","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/irfc-hopeful-of-raising-rs-1000-crore-from-capital-gains-bonds\/","title":{"rendered":"IRFC hopeful of raising Rs 1,000 crore from capital gains bonds"},"content":{"rendered":"

BHUBANESWAR: Indian Railway Finance Corporation (IRFC<\/a>) is hopeful of raising Rs 1,000 crore from the recent issue of capital gains bonds<\/a>, its Managing Director S K Pattanayak said today. <\/p>\n

With an aim to raise Rs 500 crore with the green shoe option to retain over-subscription, IRFC is looking at mopping up Rs 1,000 crore from the capital gains bonds, he told PTI here. <\/p>\n

Stating that IRFC opened the issue on November 10, Pattanayak said the bonds have a lock-in period of three years and presently yields an interest of 5.25 per cent per annum, payable on October 15 every year. <\/p>\n

The bonds have benefits under Section 54EC of the Income Tax Act, 1961, he said. <\/p>\n

IRFC is among the four institutions authorised by the Union Finance<\/a> Ministry to issue such bonds. The other three non-banking financial companies are NHAI, REC and PFC. <\/p>\n

"The IRFC bonds are safe, secure, redeemable and non-transferable, and are a cheap source of funding for us," the managing director said, adding, that a person who has received capital gains in a year can invest in these bonds and save tax on capital gains. <\/p>\n

An investor can invest a minimum of Rs 20,000, and in multiples of Rs 10,000 thereafter, with a maximum of up to Rs 50 lakh in these bonds, during a financial year. <\/p>\n

Noting that IRFC is one among the five Railway PSUs selected for listing on the bourses, Pattanayak, who was on a visit here, said preparations were underway in that direction. <\/p>\n

Since its inception in 1986, IRFC has been playing a significant role in supporting the expansion of the Indian Railways<\/a>, meeting about 30 per cent of its extra budgetary requirements, he said.
The amount is around Rs 40,000 crore during this fiscal. <\/p>\n

Stating that the Railways has a big investment plan of Rs 8.56 lakh crore from 2015-16 to 2019-20, Pattanayak said said the target of funding through IRFC has been pegged at Rs 2.50 lakh crore. <\/p>\n

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Original Article<\/a><\/p>\n

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The post IRFC hopeful of raising Rs 1,000 crore from capital gains bonds<\/a> appeared first on News Wire Now<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

BHUBANESWAR: Indian Railway Finance Corporation (IRFC) is ho..<\/p>\n","protected":false},"author":1,"featured_media":44904,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[],"class_list":["post-44903","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nIRFC hopeful of raising Rs 1,000 crore from capital gains bonds - Business News Report<\/title>\n<meta name=\"description\" content=\"BHUBANESWAR: Indian Railway Finance Corporation (IRFC) is ho..\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/irfc-hopeful-of-raising-rs-1000-crore-from-capital-gains-bonds\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IRFC hopeful of raising Rs 1,000 crore from capital gains bonds - 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