Indian Railway Finance Corporation

Summary

Indian Railway Finance Corporation (IRFC) is under the ownership of Indian Railways, Ministry of Railways, Government of India.[4] It raises financial resources for expansion and running through capital markets and other borrowings.[5] IRFC is a Miniratna/Schedule "A" Indian public sector undertaking (PSU).[6]

Indian Railway Finance Corporation
TypeSubsidiary of Indian Railways
ISININE053F01010
IndustryFinancial services
Founded12 December 1986[1]
HeadquartersNew Delhi, India
Key people
Amitabh Banerjee
(Chairman & MD)
Productsfinancial
Services
  • Leasing
  • Lending
  • Borrowing
RevenueIncrease13,823.45 crore (US$1.8 billion) (2020)[2]
Increase13,740.39 crore (US$1.8 billion) (2020)[2]
Increase3,658.73 crore (US$480 million) (2020)[2]
Total assetsIncrease206,603.60 crore (US$27 billion) (2019)[3]
Total equityIncrease18,585.51 crore (US$2.4 billion) (2019)[3]
OwnerIndian Railways
(Ministry of Railways, Government of India)
Websiteirfc.co.in

HistoryEdit

IRFC was founded on 12 December 1986.[1] It started borrowing from the market in 1987–88.

The companyEdit

IRFC raises money through financial bonds and from banks and financial institutions.[7][8] In 2019 Amitabh Banerjee was appointed as the Managing Director of the company.[9]

The company announced its initial public offering on 18 January 2021[10] and got listed on the National Stock Exchange of India / Bombay Stock Exchange on 29 January 2021.

See alsoEdit

  • Rail Vikas Nigam, involved in building rail infrastructure required by the Indian railways.

ReferencesEdit

  1. ^ a b Jha, J. K. (17 January 2021). "Indian Railway Finance Corporation IPO: Opens tomorrow: Key details an investor should know before subscribing". www.thehansindia.com. Retrieved 11 September 2021.
  2. ^ a b c "P/L Account 31.03.2020".
  3. ^ a b "Balance Sheet 31.03.2019".
  4. ^ "IRFC, HUDCO tax free bonds closing date entended, should you invest?". Economic Times.
  5. ^ "IRFC, Rural Electrification Corp, IIFC eye Rs 12,000 crore through tax-free bonds". Economic Times.
  6. ^ "Maharatna, Navratna and Miniratna CPSEs". dpe.gov.in. Department of Public Enterprises (Indian Government). Retrieved 28 September 2021.
  7. ^ "Select institutions can raise Rs 50,000 cr tax-free bonds". The Hindu Business Line. 28 February 2013. Retrieved 7 July 2018.
  8. ^ Das, Saikat (5 July 2018). "LIC will invest up to Rs 26,000 crore in IRFC". The Economic Times. Retrieved 6 November 2020.
  9. ^ "Amitabh Banerjee appointed managing director of IRFC". Tribuneindia News Service. Retrieved 7 September 2021.
  10. ^ "IRFC IPO: First IPO Of 2021 To Open On January 18: Key Things To Know". NDTV.com. 13 January 2021. Retrieved 2 August 2021.

External linksEdit

  • Official site