Indian Railway Finance Corporation

Indian Railway Finance Corporation
Company typePublic
ISININE053F01010
IndustryFinancial services
Founded12 December 1986[1]
HeadquartersNew Delhi, India
Key people
Manoj Kumar Dubey (Chairman & MD)
Services
  • Leasing
  • Lending
  • Borrowing
RevenueIncrease ₹26,644 crore (US$3.1 billion) (2023-24)
Increase ₹26,519 crore (US$3.1 billion) (2023-24)
Increase ₹6,412 crore (US$740 million) (2023-24)
Total assetsIncrease ₹464,641 crore (US$54 billion) (2023-24)
Total equityIncrease ₹49,178 crore (US$5.7 billion) (2023-24)
OwnerGovernment of India
Number of employees
42
Websiteirfc.co.in
Footnotes / references
[2]

Indian Railway Finance Corporation (IRFC) is an Indian public sector undertaking[3] engaged in raising financial resources for expansion and running through capital markets and other borrowings.[4][5] The Government of India owns a majority stake in the company, while the Ministry of Railways has administrative control.[6]

History

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

The company launched its initial public offering on 18 January 2021[7] and got listed on the National Stock Exchange of India and Bombay Stock Exchange on 29 January 2021.

Operations

IRFC raises money through financial bonds and from banks and financial institutions.[8][9]

Board of directors

IRFC's Board of Directors includes Uma Ranade as Chairman and Managing Director, Shelly Verma as Director (Finance), Baldeo Purushartha as Nominee Director, Vallabhbhai Maneklal Patel as Non-Official Independent Director, and Sheela Pandit as Non-Official Independent Director.[10][11]

See also

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

References

  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. ^ "Annual Report 2023-24" (PDF). IRFC. 29 August 2024. Retrieved 11 September 2024.
  3. ^ "IRFC, HUDCO tax free bonds closing date entended, should you invest?". Economic Times. Archived from the original on 10 April 2015.
  4. ^ "IRFC Rides High: Rail PSU Stock Soars 12% This Week, Analysts Eye Further Upside". Bru Times News.
  5. ^ "IRFC, Rural Electrification Corp, IIFC eye Rs 12,000 crore through tax-free bonds". Economic Times. Archived from the original on 9 April 2015.
  6. ^ "Maharatna, Navratna and Miniratna CPSEs". dpe.gov.in. Department of Public Enterprises (Indian Government). Retrieved 28 September 2021.
  7. ^ "IRFC IPO: First IPO Of 2021 To Open On January 18: Key Things To Know". NDTV.com. 13 January 2021. Retrieved 2 August 2021.
  8. ^ "Select institutions can raise Rs 50,000 cr tax-free bonds". The Hindu Business Line. 28 February 2013. Retrieved 7 July 2018.
  9. ^ Das, Saikat (5 July 2018). "LIC will invest up to Rs 26,000 crore in IRFC". The Economic Times. Retrieved 6 November 2020.
  10. ^ "IRFC Board of Directors". Retrieved 12 August 2022.
  11. ^ "Amitabh Banerjee appointed managing director of IRFC". Tribuneindia News Service. Retrieved 7 September 2021.