Ennore Port Limited, the developer and operator of Ennore Port, India’s 12th Major Port under the Ministry of Shipping, Government of India and the only major port with corporate form of management in India, is proposing a public issue of tax free secured redeemable non-convertible bonds of face value of Rs. 1000 each having tax benefits under section 10(15)(iv)(h) of the Income Tax Act, 1961 (“Bonds”) upto Rs. 500 crores with an option to retain over subscription upto Rs. 500 crores, aggregating Rs.1,000 Crores (the “Issue”).  The Bonds are proposed to be listed on BSE Limited.

The Issue has opened for subscription on Thursday, 28^th February 2013 and will close on Friday, 15^th March, 2013.

IDFC Capital Limited, A.K. Capital Services Limited and SBI Capital Markets Limited are the Lead Managers to the Issue.

The Bonds have been assigned a rating of “BWR AA+ (SO) (Outlook: Stable)” by Brickwork; “CARE AA-“ by CARE;  and “CRISIL AA-/Stable” by CRISIL.  The Bonds with such ratings are considered to have high degree of safety regarding timely servicing of financial obligations and carry very low credit risk.

The Bonds will be open for subscription by four categories of investors viz.  Category I – Qualified Institutional Buyers (QIBs); Category II – Domestic Corporates; Category III – High Networth Individuals (HNIs); and Category IV – Retail Individual Investors.

The Bonds are being issued in two series.  Series I Bonds have a coupon rate of 7.01% p.a. and a tenure of 10 years and Series II Bonds have a coupon rate of 7.17% p.a. and a tenure of 15 years.  An additional coupon rate of 0.50% will be paid to original allottees under Category IV (Retail Individual Investors)