Orders | Qty | Bid |
---|---|---|
2 | 106 | 126.57 |
8 | 770 | 126.56 |
8 | 3001 | 126.55 |
8 | 2862 | 126.54 |
6 | 1050 | 126.53 |
Ask | Qty | Orders |
---|---|---|
126.63 | 5 | 841 |
126.64 | 9 | 2068 |
126.65 | 7 | 784 |
126.66 | 5 | 1326 |
126.67 | 5 | 1461 |
Indian Railway Finance Corporation Limited (IRFC) was incorporated on December 12, 1986, as a public limited company and later registered as a Non-Banking Finance Company (NBFC). It was also declared a Public Financial Institution under Section 4A of the Companies Act, 1956.
A Government of India undertaking under the administrative control of the Ministry of Railways (MoR), IRFC serves as the principal financing conduit for Indian Railways. It funds the acquisition of rolling stock, leasing of railway infrastructure assets, and lending to entities with forward and backward linkages to the rail ecosystem.
Its leasing model typically spans 30 years (15-year primary plus 15-year secondary), operating on a cost-plus structure with MoR that ensures stable earnings. Assets are generally transferred to MoR for a nominal sum at the lease’s conclusion.
IRFC’s operations and revenues are India-focused, with all customers domiciled in India. The Company confirms receipt of lease and interest income from within the country and reports Nil exports for the year. As per disclosures, it has no subsidiaries, associates, or joint ventures, and therefore no consolidated financial statements are prepared.
Key milestones include listing on NSE and BSE on January 29, 2021; becoming the first CPSE to list offshore bonds exclusively at the GIFT City exchanges; raising a JPY 130 billion green loan; and being granted “Navratna” status by the Government of India in March 2025. Earlier milestones feature issuing Euro-dollar bonds offshore and diversifying borrowings across instruments and markets.
Geographic mix:
Key Management Personnel in IRFC’s framework comprise the CMD, Director (Finance), CFO, and Company Secretary.
: IRFC mobilises funds from domestic and international markets to finance rolling stock, lease railway infrastructure assets, and lend to entities within the rail ecosystem. Its cost-plus, 30-year leasing structure with MoR underpins stable earnings and low credit risk.
IRFC’s operations and customers are domiciled in India; the Company’s turnover from exports is Nil. It serves the Indian market across 36 States and Union Territories, with lease and interest income received domestically.
IRFC attained Navratna status in March 2025 and advanced its diversification by financing NTPC’s BOBR rakes and extending a large term loan to NTPC Renewable Energy Limited. It also signed an MoU with REMC for green energy projects and emerged as the lowest bidder for financing the Banhardih Coal Block for PVUNL.