IRFC issues bonds to raise up to Rs 3,000 crore

Indian Railway Finance Corporation plans to float bonds worth Rs 3,000 crore, including Rs 2,500-crore greenshoe, on November 22, market sources said. The bonds will mature in three years or on November 11, 2026.

Bidding for these bonds will took place on November 22 between 10am and 11am on the electronic bidding platform of the National Stock Exchange of India. The pay-in date is set for November 24. The pay-in date is when the exchange of bonds and money takes place between the issuer and the investor.

The bonds have been rated ‘AAA’ by CRISIL, ICRA and CARE ratings.

On November 20, Moneycontrol reported that National Bank for Agriculture and Rural Development (NABARD) and Small Industries Development Bank of India (SIDBI) plans to issue bonds. NABARD intends to raise up to Rs 5,000 crore, including Rs 3,000 crore through bonds maturing in three years and one month.