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The issue which opens onOctober 18, 2010 for retailers will have a ten-year maturity and closes on November 2, 2010
. After the issue of Bonds by IFCI, IDFC Bonds are open now and the issue closes on October 22, 2010 According to L&T Infra's Director Y M Deosthalee,
"We were encouraged by the high retail participation in L&T Finance's two issues last year. Targeting retail investors to raise money at reasonable rates is a part of our strategy to enlarge our liability base," .
Traditionally, the company, which has been in business since 2007, had been raising money from banks and mutual funds.
The issue size of bonds is for Rs 200 crores, with an option to retain over subscription of another Rs 500 crores.
The Bonds which comes in four series can either be purchased in physical or dematerialized form.