IRFC likely to raise around ₹3,000 crore via issuance of bond

Indian Railway Finance Corporation (IRFC) is planning to raise ₹3,000 crore, including   ₹2,500 crore greenshoe, according to media reports. The bonds will mature in three years or on November 11, 2026.

The bidding of the bond is scheduled for November 22, occurring from 10 am to 11 am on the electronic bidding platform of the National Stock Exchange of India. The pay-in date is slated for November 24, marking the exchange of bonds and funds between the issuer and the investor.

CRISIL, ICRA, and CARE ratings have all assigned an 'AAA' rating to the bonds.

According to a Moneycontrol report, on November 20,  the National Bank for Agriculture and Rural Development (NABARD) and the Small Industries Development Bank of India (SIDBI) are set to issue bonds. NABARD aims to secure up to  ₹5,000 crore, with  ₹3,000 crore allocated to bonds maturing in three years and one month.

Similarly, SIDBI plans to raise up to  ₹5,000 crore, with  ₹3,000 crore earmarked for bonds maturing in five years or on November 24, 2028. The bidding for both SIDBI and NABARD bonds is scheduled to take place on November 22, on the BSE and NSE.

SIDBI’s bonds have been rated ‘AAA’ by CRISIL and CARE, and NABARD’s bonds were rated ‘AAA’ by ICRA and India Ratings.

IRFC share price was trading 1.12% higher at ₹76.95 per piece, higher than its previous close at ₹76.10 per share on November 21. The stock touched an intraday high to ₹77.80 at 9:35 am on Tuesday’s trading session