Government issues fertiliser special bonds

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Mumbai, Feb 18 (UNI) The Union Government today announced the issue of '7.95 per cent Fertilizer Companies Government of India Special Bonds, 2026' for Rs 3,610 crore (nominal) to 23 fertiliser companies as compensation towards fertiliser subsidy during the current financial year.

The investment in the second and final tranche of Special Special Bonds by the banks would 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 would be eligible to be reckoned as investment under 'Other Approved Securities' category as defined under Insurance Regulatory and Development Authority (Investment) Regulations, 2000, RBI said in a release here.

Further, the investment by the Provident Funds, Gratuity Funds and Superannuation Funds in the Special Bonds would 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/Reverse Repo) with the RBI the relese added.

The eligible companies for the special bonds, with the amount indicated in paranthesis were: Chambal Fertilisers&Chemicals Limited (Rs 288.580 Cr), Gujarat Narmada Valley Fertilisers Company Limited (Rs 121.376 cr), Gujarat State Fertilisers&Chemicals Limited (Rs.76.234 cr), Indian Farmers Fertiliser Co-operative Limited (Rs 646.157 Cr), Indo Gulf Fertilisers, a unit of Aditya Birla Nuvo Ltd, (Rs 41 Cr), Krishak Bharti Co-operative Limited (Rs 53 Cr), Mangalore Chemicals&Fertilisers Limited (Rs 180.217 Cr), Nagarjuna Fertilisers&Chemicals Limited (Rs. 223Cr), National Fertilisers Limited (Rs 574 Cr), Kribhco Shyam Fertilizers Limited (Rs 49 Cr), Rashtriya Chemicals&Fertilisers Limited (Rs 359.522 Cr), Shriram Fertilisers&Chemicals (Rs 123 Cr), TATA Chemicals Limited (Rs 126.453 Cr), Zuari Industries Limited (Rs 202.730 Cr) Coromandel Fertilisers Limited (Rs 45.088 Cr), Deepak Fertilisers&Petrochemicals Corporation Limited (Rs 7.621 Cr), Godavari Fertilisers&Chemicals Limited (Rs 60.858 Cr), HINDALCO Industries Limited, a unit of Birla Copper, (Rs 10.259 Cr), Indian Potash Limited (Rs 314.806 Cr), Mosaic India Private Limited (Rs 34.850 Cr), Paradeep Phosphates Limited (Rs 66.468 Cr), Southern Petrochemical Industries Corporation Limited (Rs 5.504 Cr) and TFCL (Rs 0.277 Cr).


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