IRFC to raise up to Rs 3,000 cr via 10-year bonds on December 13

Bidding for the bonds will take place on December 13 between 10 AM and 11 AM on the electronic bidding platform of BSE.

Indian Railway Finance Corporation (IRFC) plans to issue bonds worth up to Rs 3,000 crore on December 13, market sources said.

The bonds have a base issue size of Rs 500 crore, with retain over subscription of Rs 2,500 crore in greenshoe. The bonds will mature in 10-year or on December 15, 2033.

Bidding for the bonds will take place on December 13 between 10 am and 11 am on the electronic bidding platform of BSE.

Pay in and allotment date is on December 15, as per issuer manual. Pay in date is a date when exchange of bonds and money takes place between issuers and investors.

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The bonds have been rated 'AAA' with 'Stable' outlook by CRISIL, ICRA and CARE.

Minimum application size during the bidding is Rs 1 crore and in multiples of Rs 1 lakh, sources said.

Today, Bank of Maharashtra will raise up to Rs 1,000 crore through 10-year Tier-II bonds. Bidding is scheduled today between 11am and 12:30pm on the electronic bidding platform of the BSE.

On December 11, Five Star Business Finance raised Rs 105 crore via three years bonds at 9.50 coupon. Bidding of this bond took place on the BSE's bidding platform.

Whereas on National Stock Exchange of India's bidding platform, Axis Finance raised Rs 250 crore via subordinate debt.