Government of India have announced the issue of '6.20 per cent Fertilizer Companies' Government of India Special Bonds, 2022' for Rs. 4,000 crore (nominal). The Special Bonds are being issued at par to 16 Fertilizer Companies (list enclosed) as compensation towards fertilizer subsidy during the current financial year on December 24, 2008 (Wednesday).
The investment in the Special Bonds by the banks and Insurance Companies will not be reckoned as an eligible investment in Government securities for their statutory requirements. However, such investment by the insurance companies will be eligible to be reckoned as investment under "other Approved Securities" category as defined under Insurance Regulatory and Development Authority (Investment) Regulations, 2000. Further, the investment by the Provident Funds, Gratuity Funds, Superannuation Funds, etc. in the Special Bonds will 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).
Government of India
Ministry of Finance
Department of Economic Affairs
North Block, New Delhi - 110001
Dated December 24, 2008
List of eligible Companies and allocation of '6.20 per cent Fertilizer Companies' Government of India Special Bonds, 2022'
| Name of the Company | Amount in Rupees |
|---|---|
| Chambal Fertilizers & Chemicals Limited | 104590000 |
| Gujarat Narmada Valley Fertilizers Company Limited | 770000 |
| Gujarat State Fertilizers & Chemicals Limited | 2582840000 |
| Indian Farmers Fertilizer Co-operative Limited | 21063280000 |
| Mangalore Chemicals & Fertilizers Limited | 304740000 |
| Rashtriya Chemicals & Fertilizers Limited | 429290000 |
| Tata Chemicals Limited | 1234710000 |
| Zuari Industries Limited | 882420000 |
| Coromandel Fertilizers Limited | 3893120000 |
| Deepak Fertilizers & Petrochemicals Corporation Limited | 130820000 |
| Fertilizer and Chemicals Travancore Limited | 19250000 |
| Hindalco Industries Limited (Unit: Birla Copper) | 286420000 |
| Indian Potash Limited | 7905640000 |
| Mosaic India Private Limited | 132930000 |
| Paradeep Phosphates Limited | 1028510000 |
| Tungbhadra Fertilizers & Chemicals Company Limited | 670000 |
| Total | 40000000000 |
