8.68% Surat Municipal Corporation - AA Rated (INE05NX24015)

Surat Municipal Corporation, a Utilities company, has floated Bond, having ISIN value as INE05NX24015, with a face value of ₹10,00,000 rs on 01Mar19 to raise 200 crores. The debt instrument is issued with a coupon rate of 8.68% and its interest is paid Semi Annually. 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 8.68% UNSECURED LISTED TAXABLE REDEEMABLE NON CONVERTIBLE BONDS IN THE NATURE OF DEBENTURES. SERIES I. DATE OF MATURITY 01/03/2024. This instrument is issued in Private Placement mode. It has Simple coupon type with Full Redemption option. The Bond is listed on BSE stock exchange on 06Mar19. INDIA RATING AND RESEARCH PVT. LTD has given AA+ rating to this Bond on 06Feb20. Neither the Principal nor the Interest is covered for this Bond. Yes, this debt instrument is Perpetual In Nature.