Government of India have announced the issue of '8.30 per cent Fertilizer Companies' Government of India Special Bonds, 2023' for Rs.3,890 crore (nominal), The first tranche of the Special Bonds are being issued at par to 22 Fertilizer Companies (list enclosed) as compensation towards fertilizer subsidy during the current financial year on December 7, 2007 (Friday).
The investment in the Special Bonds by the banks will not be reckoned as an eligible investment in Government securities by banks and insurance companies 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). The bonds, however, will not be an eligible underlying security for ready forward transactions (Repo/Reverse repo) with the Reserve Bank of India.
Government of India
Ministry of Finance
Department of Economic Affairs
New Delhi
Dated December 7, 2007.
List of eligible Companies and allocation of '8.30 per cent Fertilizer Companies Government of India Special Bonds, 2023'.
(Rs. in crore)
| Name of the Company | Amount |
|---|---|
| Chambal Fertilizers & Chemicals Limited | 95.00 |
| Gujarat Narmada Valley Fertilizers Company Limited | 73.00 |
| Gujarat State Fertilizers & Chemicals Limited | 217.00 |
| Indian Farmers Fertilizer Co-operative Limited | 1031.00 |
| Indo Gulf Fertilizers (A unit of Aditya Birla Nuvo Ltd.) | 15.00 |
| Krishak Bharti Co-operative Limited | 10.00 |
| Mangalore Chemicals & Fertilizers Limited | 118.00 |
| Nagarjuna Fertilizers & Chemicals Limited | 45.00 |
| National Fertilizers Limited | 150.00 |
| Kribhco Shyam Fertilizers Limited | 25.00 |
| Rashtriya Chemicals & Fertilizers Limited | 177.00 |
| Shriram Fertilizers & Chemicals | 40.00 |
| TATA Chemicals Limited | 182.00 |
| Zuari Industries Limited | 241.00 |
| Coromandel Fertilizers Limited | 211.00 |
| Deepak Fertilizers & Petrochemicals Corporation Limited | 4.00 |
| Godavari Fertilizers & Chemicals Limited | 195.00 |
| HINDALCO Industries Limited (Unit: Birla Copper) | 22.00 |
| Indian Potash Limited | 706.00 |
| Mosaic India Private Limited | 76.00 |
| Paradeep Phosphates Limited | 219.00 |
| Southern Petrochemical Industries Corporation Limited | 38.00 |
| Total | 3890.00 |
