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US-64 tax free bonds to trade on NSE, OTCEI from June 16
Mumbai, May 28: Trading in 6.75 per cent tax free tradeable bonds, issued for Unit Trust of India`s US 64 units, would commence on the National Stock Exchange and Over the Counter Exchange of India (OTCEI) from June 16, 2003.
Mumbai, May 28: Trading in 6.75 per cent tax free tradeable bonds, issued for Unit Trust of India's US 64 units, would commence on the National Stock Exchange and Over the Counter Exchange of India (OTCEI) from June 16, 2003.
The US 64 units would not be traded from May 31, 2003 as the scheme would cease to exist in its present form with effect from June one, 2003, the administrator for UTI-1 said in a release here today.
Investors holding upto 5,000 units of the scheme as on June 30, 2001 and those who bought units under this category from the secondary market on or after January 24, 2003 were given the option to convert their holding into 6.75 per cent tradeable government guaranteed bonds, it said.
Similarly, investors holding beyond 5,000 units of the US 64 scheme as on June 30, 2001 and those who bought units under this category from the secondary market on or after January 24, 2003 were also given the option to convert holding into tax free bonds, the release said.
UTI-I manages the assets of US-64 and assured income schemes.
Bureau Report
Investors holding upto 5,000 units of the scheme as on June 30, 2001 and those who bought units under this category from the secondary market on or after January 24, 2003 were given the option to convert their holding into 6.75 per cent tradeable government guaranteed bonds, it said.
Similarly, investors holding beyond 5,000 units of the US 64 scheme as on June 30, 2001 and those who bought units under this category from the secondary market on or after January 24, 2003 were also given the option to convert holding into tax free bonds, the release said.
UTI-I manages the assets of US-64 and assured income schemes.
Bureau Report