Mumbai: Indian Railway Finance Corp (IRFC), a state-run funding agency, has invited bids for at least Rs7 billion of bonds, two sources, including a company official, said on Tuesday.
The company will issue 5-year, 10-year and 15-year bonds and bidding will close at noon on Wednesday. IRFC had on 7 January postponed its Rs7-billion bond issue, as bond yields rose after government announced a higher-than-expected borrowing plan.
“The terms are the same as the previous issue (on 7 January). How long can we wait? We have to go ahead with our plans though the market is volatile,” the IRFC official said.