| |
RBI move may help ICICI safety bonds
PRESS TRUST OF INDIA
MUMBAI, Mar 19: ICICI is buoyed by the Reserve Bank's decision to cut the repo rate and bank rate. The scenario is `quite encouraging' for the success of ICICI Safety Bonds which opened for subscription on March 16, said senior vice-president Madhabi Puri-Buch. ``We are getting feedback from the market and people feel interest rates could see another dip'', she said, claiming that a lot of undecided people are now investing their money in the Safety Bonds.ICICI had anticipated the developments (on the interest rate front) and knew fully well what would happen in end-March,'' Buch said. ICICI is offering a YTM of 13.3-14 per cent on differing options in the Money Multiplier Bond, 13.9 per cent to 14 per cent on Regular Income Bond and 12.49 per cent to 13 per cent on Tax Saving Bond. Buch said ICICI continues to maintain that the target amount stands at Rs 400 crore and the greenshoe option would be leveraged to keep the assurance of confirmed allotment to subscribers of Tax Saving Bond and smallinvestors. Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
|
 |
