Indian Railway Finance Corporation

From Bharatpedia, an open encyclopedia


Indian Railway Finance Corporation
Traded as
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$1.9 billion) (2020)[2]
Increase13,740.39 crore (US$1.9 billion) (2020)[2]
Increase3,658.73 crore (US$510 million) (2020)[2]
Total assetsIncrease206,603.60 crore (US$29 billion) (2019)[3]
Total equityIncrease18,585.51 crore (US$2.6 billion) (2019)[3]
OwnerIndian Railways, Ministry of Railways, Government of India
Websiteirfc.nic.in

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]

History[edit]

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

The company[edit]

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 also[edit]

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

References[edit]

  1. 1.0 1.1 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. 2.0 2.1 2.2 "P/L Account 31.03.2020".
  3. 3.0 3.1 "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 links[edit]

Information red.svg
Scan the QR code to donate via UPI
Dear reader, We kindly request your support in maintaining the independence of Bharatpedia. As a non-profit organization, we rely heavily on small donations to sustain our operations and provide free access to reliable information to the world. We would greatly appreciate it if you could take a moment to consider donating to our cause, as it would greatly aid us in our mission. Your contribution would demonstrate the importance of reliable and trustworthy knowledge to you and the world. Thank you.

Please select an option below or scan the QR code to donate
₹150 ₹500 ₹1,000 ₹2,000 ₹5,000 ₹10,000 Other