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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
Sovereign Gold Bond: Final redemption of SGB 2016-17 Series IV; investors to make 193% profit at maturity; check details
Sovereign Gold Bond (SGB) 2016-17 Series IV, which is due today, March 17, 2025. It was issued in March 2017. The SGB is repayable on the expiration of eight years from the date of issue of the Gold Bonds. Accordingly, the final redemption date of the above tranche shall be March 17, 2025.
SGB 2016-17 Series IV: What is the final redemption price?
The final redemption price is Rs 8,634 per gram based on the simple average closing gold price for the three business days i.e., March 11, March 12, and March 13, 2025.
Also read: How to buy Sovereign Gold Bonds (SGBs) from stock market?
Note that the government has not announced any new Sovereign Gold Bonds for this year yet.
SGB 2016-17 Series IV: How much profit did investors make?
The Sovereign Gold Bond (SGB) 2016-17 Series IV, issued on March 17, 2017, had an issue price of Rs 2,943 per gram, which included a Rs 50 discount for investors who applied online. The final redemption price on March 17, 2025, has been determined as Rs 8,624 per gram based on the average price of gold (999 purity) published by the India Bullion and Jewellers Association Ltd (IBJA). This means that in absolute terms, an investor has earned a return of 193% over eight years without considering the interest component.
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Investors earn a fixed 2.50% per annum interest. The interest is paid semi-annually (every six months) and does not compound.
Capital Gains tax benefit
Since SGBs held until maturity are exempt from capital gains tax, the entire appreciation in value remains
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