AK Capital executes sale of 8.15% GOI FCI Special Bonds 2022

AK Capital Services Ltd has announced that the Company has successfully executed secondary market sale of 8.15% Government of India FCI Special Bonds 2022 of face value aggregating to Rs 1,250 crores. The sale was executed by the Company as Book Running Lead Arranger through book building process. Total demand generated in the sell down process was for Rs 2,572 crores, of which Food Corporation of India decided to accept bids for Rs 1,250 crores at a cut-off sale price of Rs 100.35 per Bond per Rs 100/- (excluding accrued interest).

These Bonds were issued by the Government of India to Food Corporation of India on October 16, 2006 and recently Ministry of Finance had clarified that these bonds would be eligible for investments by Provident, Superannuation and Gratuity Funds. Accordingly demand for Bonds was generated from varied investor segments including Provident Funds, Superannuation Funds, Gratuity Funds, Commercial Banks, Primary Dealers, Insurance Companies, Corporates etc. Sale was successfully executed just within one working day. This was one of the largest secondary market sale of Government of India Special Bonds by a Public Sector Undertaking.

Source : Equity Bulls

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