Jiffy360 may issue 18% tax free bonds to raise Rs 200 crores?

Question

New Delhi : After postponing IPO of Rs 600 crores Jiffy360 the biggest upcoming online shopping mall for IT products have decided to raise Rs 200 crores by issuing 18% tax free bonds to institutional investors. This means that every investors who purchase these bonds will get 18% return per year as compared to 10% returns by Indian banks. These bonds will be issued by the end of 2008 after mega launch of Jiffy360.

Jiffy360 is raising money to built up manufacturing facilities for laptops, desktop pc's and other electronic products in Noida.

Source : Sify India

Answer 1

I would wish to know how secure those bonds are before I purchase any.