Govt issues 7.95 % Fertiliser Bonds totalling Rs 3,610 crore

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New Delhi, Feb 18 (UNI) The Union Government today announced the issue of '7.95 per cent Fertiliser Companies' Government of India Special Bonds, 2026' for Rs.3,610 crore (nominal).

The second and final tranche of the Special Bonds are being issued at par to 23 Fertiliser Companies as compensation towards fertiliser subsidy during the current financial year on February 18, 2008, an official release said here today.

The investment in the Special Bonds by the banks will not be reckoned as an eligible investment in Government securities by banks and insurance companies for their statutory requirements.

However, such investment by the insurance companies will be eligible to be reckoned as investment under 'other Approved Securities' category as defined under Insurance Regulatory and Development Authority (Investment) Regulations, 2000.

Further, the investment by the Provident Funds, Gratuity Funds and Superannuation Funds in the Special Bonds will be treated as an eligible investment under the administrative order of the Ministry of Finance.

The Special bonds will be transferable and eligible for market ready forward transactions (Repo). The bonds, however, will not be an eligible underlying security for ready forward transactions (Repo and Reverse repo) with the Reserve Bank of India.

List of eligible Companies and allocation of '7.95 per cent Fertiliser Companies Government of India Special Bonds, 2026' is as follows: 1 Chambal Fertilisers&Chemicals Limited Rs 288.580 crore; 2 Gujarat Narmada Valley Fertilizers Company Limited Rs 121.3763 crore; 3 Gujarat State Fertilisers&Chemicals Limited Rs 76.234 crore; 4 Indian Farmers Fertiliser Co-operative Limited Rs 646.157 crore; 5 Indo Gulf Fertilisers (A unit of Aditya Birla Nuvo Ltd)Rs 41 Crore; 6 Bharti Co-operative Limited Rs 53 crore; 7 Mangalore Chemicals&Fertilisers Limited Rs 180.217 crore; 8 Nagarjuna Fertilisers&Chemicals Limited Rs 223 crore; 9 National Fertilisers Limited Rs 574 crore; 10 Kribhco Shyam Fertilisers Limited Rs 49 crores; 11 Rashtriya Chemicals&Fertilisers Limited Rs 359.522 crores; 12 Shriram Fertilisers&Chemicals Rs 123 crore; 13 TATA Chemicals Limited Rs 126.453 crores; 14 Zuari Industries Limited Rs 202.730 crores; 15 Coromandel Fertilisers Limited Rs 45.088 crores; 16 Deepak Fertilisers&Petrochemicals Corporation Limited Rs 7.621 crores; 17 Godavari Fertilisers&Chemicals Limited Rs 60.858 crores; 18 HINDALCO Industries Limited (Unit: Birla Copper) Rs 10.259 crores; 19 Indian Potash Limited Rs 314.806 crores; 20 Mosaic India Private Limited Rs 34.850 crores; 21 Paradeep Phosphates Limited Rs 66.468 crores; 22 Southern Petrochemical Industries Corporation Limited Rs 5.504 crores; 23 TFCL Rs 0.277 crores; Total Rs 3610 crores.


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