Listing Gains – IRFC is offering 7.53% rate of interest for its 15-year option, which is also the highest rate of interest for its bonds across all three options. #NTPC issue also carried the same 7.53% rate of interest for its 15-year option.
As you can check from the table above, #NTPC 15-year bonds last traded at Rs. 1,047 on Friday on the #NSE i.e. a 4.7% premium to its issue price. Even if I consider Rs. 12-15 premium to be the accrued interest for the 2-month period since listing, these bonds are still earning a natural premium of approximately 3-3.50%.”
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