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Instrument Details

ISIN: INE05NX24015

Face value

₹10,00,000

Coupon rate

8.68%

Payment

Semi Annually

Tax Type

Taxable

Issue Size (Cr)

200

Instrument Type

Bond

Returns

High

Date of Issue

01 Mar 2019

Maturity Date

03 Jan 2024

Perpetual

Yes

Listing Status

Listed

Rating status

AA+ (INDIA Ratings)

Call Option

Not Available

Put Option

Not Available

Security with Collaterals

Unsecured

Asset Coverage

-

Seniority in Repayment

None

Guarantee Type

Non Convertible

About this Bond

SURAT MUNICIPAL CORPORATION SERIES I 8.68 BD 01MR24 FVRS10LAC
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.

Rating (Debt Quality)

Instrument Rating
AA
High Safety
AA+
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Date Verified
23 Jan 2024
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Outlook
Stable
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Seniority in Repayment
None
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Security
Unsecured
Investment Calculation (Pre-Tax)

Below is an indicative cash-flow on investment, actual cash-flow may differ.

Face Value
₹10,00,000
Lot Size
100
Minimum Investment
₹10,00,00,000

Cashflow

₹10,00,00,000
01-Mar-19 : Your investment
₹43,40,000
01-Sep-19 : Interest
₹43,40,000
01-Mar-20 : Interest
₹43,40,000
01-Sep-20 : Interest
₹43,40,000
01-Mar-21 : Interest
₹43,40,000
01-Sep-21 : Interest
₹43,40,000
01-Mar-22 : Interest
₹43,40,000
01-Sep-22 : Interest
₹43,40,000
01-Mar-23 : Interest
₹43,40,000
01-Sep-23 : Interest
₹14,22,555
03-Jan-24 : Interest
₹14,04,82,555
03-Jan-24 : Maturity amount (Investment: ₹10,00,00,000, Interest earned: ₹4,04,82,555)

Summary

Instrument Attributes

Value

Coupon Rate

8.68%

Returns

High

Bond Rating

AA+

Seniority in Repayment

None

Instrument Category

Non Convertible

About the issuer

Basic Industry
BASIC INDUSTRY
Utilities
Head Office
HEAD OFFICE
Surat
Sector name
SECTOR
-
Issuer ownership
ISSUER OWNERSHIP
PSU

FAQs about INE05NX24015 issued by Surat Municipal Corporation

The instrument name of INE05NX24015 ISIN is SURAT MUNICIPAL CORPORATION SERIES I 8.68 BD 01MR24 FVRS10LAC.
The interest earned from INE05NX24015 bond issued by Surat Municipal Corporation is paid Semi Annually, ensuring regular and consistent income for investors.
This INE05NX24015 bond issued by Surat Municipal Corporation has been assigned a credit rating of AA+ by INDIA RATING AND RESEARCH PVT. LTD, directly indicating the issuer's creditworthiness and the probability of default.
This Bond offers a coupon rate of 8.68%, which determines the periodic interest payments made to bondholders.
The INE05NX24015 Bond is issued by Surat Municipal Corporation, a PSU company.
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