0% Punjab Infrastructure Development Board - BBB Rated (INE091D11105)

Punjab Infrastructure Development Board, a Utilities company, has floated Bond, having ISIN value as INE091D11105, with a face value of ₹10,00,000 rs on 27Dec07 to raise 499.93 crores. The debt instrument is issued with a coupon rate of 0% and its interest is paid Never. The returns are Taxable and one has to pay the applicable tax on the returns from this investment. As per the filings, the long description of this Unsecured Bond is Zero coupon Unsecured Non Convertible Deep Discount Bonds (2007 Series-II) in the nature of Debentures. Letter of allotment ,STRPP-J.Date of Maturity: 27/12/2027. This instrument is issued in Private Placement mode. It has Simple coupon type with Partial Redemption By Quantity option. The Bond is listed on BSE stock exchange on 31Jan08. CARE Ratings Limited has given BBB-(CE) rating to this Bond on 27Dec07. Neither the Principal nor the Interest is covered for this Bond. Yes, this debt instrument is Perpetual In Nature.