I have been allotted "NHAI 2015-16 Tax Free Bonds - Series 2B (15 years bond)". They are 50 in units of INR 1000 each. They are currently in my demat account and currently valued at INR 1046 each. I have been paid interest @ 7.6% for first quarter 2 days back.
My Question. Since these bonds are in my demat account, can I see them? If I can sell them, why are they said to have 15 years of locking period? Can I buy more such bonds from my demat account? If so, would I will be eligible for 7.6% interest on the new bond purchased? What would be the trading price of each unit - INR 1000 or INR 1046.
Regards, -Sumit Chhabra
1 Answers
Dear Sumit,
- What do you mean by 'can I see them'? Are you referring to Physical certificates?
- You can sell them in Secondary market through stock exchanges. 15-year is the maximum period that one can hold on to them. To provide liquidity and an option to exit they provide a provision to sell the bonds in secondary market.
- You can buy more from the secondary market. The rate of interest may not be same as 7.6%. Kindly click here to check out bond prices (Stock exchange - listed bonds).
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