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Thursday, February 7, 2013

NHB tax-free bond issue likely to hit market soon

National Housing Bank (NHB) plans to come out with a public issue of tax-free bonds for retail investors during the third week of this month, it’s Chairman and Managing Director, R. V. Verma, said.

Of the Rs 5,000 crore for which Government approval is already available, NHB is looking to mop up as much as Rs 2,500 crore from retail investors.

“We will definitely be in the market. We are making every possible effort to come to the market as soon as possible,” Verma said.

He was responding to a query on whether NHB had dropped plans for public issue of tax-free bonds this fiscal, given the difficult market conditions.

Already, NHB had raised Rs 500 crore through private placement of tax-free bonds. “We will step up private placement of tax-free bonds also,” he added.

Source: thehindubusinessline


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