INDORE MUNICIPAL CORPORATION Coupon 8.25% | Municipal Green Bond

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Returns (YTM)

N/A

Min. Investment

N/A

Remaining Tenure

4Y 11M 28Days

Payment Terms

Half-Yearly

Highlights

Credit Rating

CARE AA/STABLE

Seniority

SENIOR

Security

Secured

Default History

Zero

About Issuer

INDORE MUNICIPAL CORPORATION

Indore Municipal Corporation came into act on 1956 and is set up under article 243Q(1) of the Indian Constitution 1949. It was set with an aim to develop the lacking area such as sanitation, drainage, water supply and water disposal in Indore City. The only municipality governed by the elected municipality officials who are working for the welfare of the city. It is taken responsibility by the mayor Pushyamitra Bhargava. In Madhya Pradesh it is the richest revenue generating municipal corporation.

Total Annual Revenue

1564.94 Cr (FY 21)

Year of Inception

1818

Industry

Municipal Green Bond

Head Office

Indore

Type of Issuer

Municipal Corporation

Current MD/CEO

Credit Rating / Outlook

AA STABLE

CARE

AA+ STABLE

IND

Credit rating by different rating agencies indicates the bond issuer’s ability to repay its debt obligations. A bond can be rated by one or more SEBI registered credit rating agencies e.g. CRISIL, CARE, ICRA, IND, BWR, ACUITE, INFOMERICS.
Bonds/NCDs with AA credit rating are considered to have a high degree of safety regarding timely servicing of debt obligations. Such Bonds/NCDs carry very low credit risk.
Stable Outlook suggests that the rating is unlikely to change significantly in the near to medium term, indicating a stable credit profile of the issuer.

Other Important Details & Disclosures

Issuer Name

INDORE MUNICIPAL CORPORATION

Security Name

ISIN

Copy

INE00QS24043

Face Value

₹ 250

Coupon Rate

8.25%

Coupon Type

FIXED

Payment Terms

Half-Yearly

Maturity Date

20-Feb-2028

Clean Price

₹ 101.75

Dirty Price

Current Yield

Mode of Issue

Public Placement

Date of Issue

20-Feb-2023

Listed

Yes

Instrument Type

Taxable

Security

Secured

Seniority

SENIOR

Perpetual

Trustee Details

Registrar Details

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Taxation

10%

TDS on Interest Income*

*Given TDS is indicative and fully claimable while filing ITR. The interest income from this bond will be taxable and will appear in the additional source of income in your ITR. Please consult your tax advisor for precise taxation details
As a listed bond, it is subject to capital gains tax based on the holding period. A holding period of less than 1 year qualifies as short-term, while more than 1 year qualifies as long-term.
You can submit your Form 15G/15H to the registrar and debenture trustee of the bond to avoid the TDS deduction. Download Form

Registrar details: NA

This bond is
currently out of stock

Download Cashflow

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FAQs about INDORE MUNICIPAL CORPORATION bonds

How to buy this INDORE MUNICIPAL CORPORATION bond online?

You can invest in bonds online in under 5 minutes. To buy INDORE MUNICIPAL CORPORATION bond online follow the steps below:

Login/signup at GoldenPi
Upload your documents online to complete the KYC
Pay online via payment gateway and receive bond units in your demat account

What is the yield of this INDORE MUNICIPAL CORPORATION bond?

0% is the current yield of this INDORE MUNICIPAL CORPORATION bond. A bond’s current yield indicates the annual return based on its current market price and annual coupon payment.
In addition to current yield, the yield to maturity (YTM) of this INDORE MUNICIPAL CORPORATION bond is 0%, which indicates the total expected return if the bond is held till the maturity date. It is calculated using the XIRR method considering current price, face value, coupon payments, and time to maturity.

Is it safe to invest in bonds?

Investing in bonds is relatively a safer option but it depends on factors like:

The creditworthiness of the issuer indicated by the credit rating
The debt quality of the bond indicated by its seniority and security
Your investment goals and risk appetite

If you are an existing bond investor and want to sell your bond holdings before maturity, you can do so through the secondary market. This can be done either through exchanges such as BSE or NSE, or you can also request a quote from your relationship manager at GoldenPi.

How to redeem this INDORE MUNICIPAL CORPORATION bond?

To redeem this INDORE MUNICIPAL CORPORATION bond, bond, kindly first check its redemption value and redemption schedule. This can be found by downloading the cash flow from the “Calculate Your Returns” section of this page or by contacting the support team at GoldenPi.
Once you buy this bond, the units would be reflected in your demat account.
Upon maturity, the bond units held in your demat account will be automatically debited on the maturity date, and if the maturity date falls on a bank holiday, the redemption amount will be paid out on the next working day.
The funds will be credited to the bank account linked to your demat account. The process of redeeming this INDORE MUNICIPAL CORPORATION bond is generally simple and straightforward. Contact our support team for more information.

Is this INDORE MUNICIPAL CORPORATION bond tax-free?

No, this INDORE MUNICIPAL CORPORATION bond is not tax free. The interest income received from these bonds will be treated as “income from other sources” in the ITR and the tax will be calculated as per your income tax slab.

To know more about taxation in detail please read this article: https://goldenpi.com/blogessentials/bond-market/taxation-on-gains-from-bond-investments/

Can I sell this INDORE MUNICIPAL CORPORATION bond before the maturity date?

Yes, it is possible to sell this INDORE MUNICIPAL CORPORATION bond before maturity. However, as the sale process happens in the secondary market, the price can be determined by a variety of factors, including interest rates, credit ratings, company performance, and market demand.

To know more about the sale process, contact us at https://goldenpi.com/contact-us

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Talk to our Support Team for free. We will help you through your investment journey.

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Investments in debt securities/municipal debt securities/securitized debt instruments are subject to risks including delay and/or default in payment. Read all the offer-related documents carefully.
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Highlights

About Issuer

INDORE MUNICIPAL CORPORATION

Credit Rating / Outlook

Other Important Details & Disclosures

Taxation

How to buy this INDORE MUNICIPAL CORPORATION bond online?

What is the yield of this INDORE MUNICIPAL CORPORATION bond?

Is it safe to invest in bonds?

How to redeem this INDORE MUNICIPAL CORPORATION bond?

Is this INDORE MUNICIPAL CORPORATION bond tax-free?

Can I sell this INDORE MUNICIPAL CORPORATION bond before the maturity date?

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