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Indian Railway Finance Corporation

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Indian Railway Finance Corporation
Company typePublic
ISININE053F01010
IndustryFinancial services
Founded12 December 1986[1]
HeadquartersNew Delhi, India
Key people
Usha Venugopal (Chairman & MD)[2]
Services
  • Leasing
  • Lending
  • Borrowing
RevenueIncrease ₹26,644 crore (US$3.2 billion) (2023-24)
Increase ₹26,519 crore (US$3.2 billion) (2023-24)
Increase ₹6,412 crore (US$770 million) (2023-24)
Total assetsIncrease ₹464,641 crore (US$56 billion) (2023-24)
Total equityIncrease ₹49,178 crore (US$5.9 billion) (2023-24)
OwnerGovernment of India
Number of employees
42
Websiteirfc.co.in
Footnotes / references
[3]

Indian Railway Finance Corporation (IRFC) is an Indian public sector undertaking[4] engaged in raising financial resources for expansion and running through capital markets and other borrowings.[5][6] The Government of India owns a majority stake in the company, while the Ministry of Railways has administrative control.[7]

History

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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[8] and got listed on the National Stock Exchange of India and Bombay Stock Exchange on 29 January 2021.

Operations

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IRFC raises money through financial bonds and from banks and financial institutions.[9][10]

Board of directors

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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.[11][12]

See also

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

References

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  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. ^ "IRFC announces change in CMD". Business Standard. 1 August 2024. Retrieved 11 September 2024.
  3. ^ "Annual Report 2023-24" (PDF). IRFC. 29 August 2024. Retrieved 11 September 2024.
  4. ^ "IRFC, HUDCO tax free bonds closing date entended, should you invest?". Economic Times.
  5. ^ "IRFC Rides High: Rail PSU Stock Soars 12% This Week, Analysts Eye Further Upside". Bru Times News.
  6. ^ "IRFC, Rural Electrification Corp, IIFC eye Rs 12,000 crore through tax-free bonds". Economic Times.
  7. ^ "Maharatna, Navratna and Miniratna CPSEs". dpe.gov.in. Department of Public Enterprises (Indian Government). Retrieved 28 September 2021.
  8. ^ "IRFC IPO: First IPO Of 2021 To Open On January 18: Key Things To Know". NDTV.com. 13 January 2021. Retrieved 2 August 2021.
  9. ^ "Select institutions can raise Rs 50,000 cr tax-free bonds". The Hindu Business Line. 28 February 2013. Retrieved 7 July 2018.
  10. ^ Das, Saikat (5 July 2018). "LIC will invest up to Rs 26,000 crore in IRFC". The Economic Times. Retrieved 6 November 2020.
  11. ^ "IRFC Board of Directors". Retrieved 12 August 2022.
  12. ^ "Amitabh Banerjee appointed managing director of IRFC". Tribuneindia News Service. Retrieved 7 September 2021.
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