REC gets CBDT nod to issue Rs 50 billion zero coupon bonds
REC Limited has received approval from the Central Board of Direct Taxes (CBDT), Ministry of Finance, to issue zero coupon bonds worth Rs 50 billion. These bonds will have a tenure of ten years and six months. They will be issued at a deep discount and redeemed at face value upon maturity. The structure offers tax benefits to investors under the Income Tax Act, 1961. REC had previously launched a similar bond issuance in FY…