Govt allows 13 cos to raise Rs 48,000 cr via tax-free bonds

The bonds would be in a tenure of 10, 15 or 20 years. Retail investors, qualified institutional buyers, corporates and high networth individuals can subscribe to the bonds, the CBDT said in a circular.

The companies which have been allowed to issue bonds include IIFCL (Rs 10,000 crore), IRFC (Rs 10,000 crore), National Housing Bank (Rs 3,000 crore), NTPC (Rs 1,750 crore) and NHPC (Rs 1,000 crore).

Besides, National Highway Authority of India (NHAI), Rural Electrification Corp (REC), Power Finance Corp (PFC) and Housing and Urban Development Corp (HUDCO) have been allowed to raise up to Rs 5,000 crore each in the current fiscal.PIB