Indian Railway Finance Corporation Explained
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
IRFC was founded on 12 December 1986.[8] It started borrowing from the market in 1987–88.
The company launched its initial public offering on 18 January 2021[9] and got listed on the National Stock Exchange of India and Bombay Stock Exchange on 29 January 2021.
Operations
IRFC raises money through financial bonds and from banks and financial institutions.[10] [11]
Board of directors
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.[12] [13]
See also
- Rail Vikas Nigam, involved in building rail infrastructure required by the Indian railways.
External links
Notes and References
- News: IRFC appoints Uma Ranade as Chairman and MD . 22 May 2024 . Business Standard.
- Web site: Audited Financial Results For The Quarter And Year Ended 31St March 2024 . BSE . 22 May 2024.
- http://irfc.nic.in/wp-content/uploads/2019/12/17.12.2019-INDIAN-RAILWAY-ANNUAL-REPORT-2018-19.pdf "Balance Sheet 1.01.2024"
- Web site: IRFC, HUDCO tax free bonds closing date entended, should you invest?. Economic Times .
- Web site: IRFC Rides High: Rail PSU Stock Soars 12% This Week, Analysts Eye Further Upside . Bru Times News . en.
- Web site: IRFC, Rural Electrification Corp, IIFC eye Rs 12,000 crore through tax-free bonds. Economic Times .
- Web site: Maharatna, Navratna and Miniratna CPSEs . dpe.gov.in . Department of Public Enterprises (Indian Government) . 28 September 2021.
- News: Jha . J. K. . Indian Railway Finance Corporation IPO: Opens tomorrow: Key details an investor should know before subscribing . 11 September 2021 . www.thehansindia.com . 17 January 2021 . en.
- News: IRFC IPO: First IPO Of 2021 To Open On January 18: Key Things To Know . 2 August 2021 . NDTV.com . 13 January 2021.
- News: Select institutions can raise Rs 50,000 cr tax-free bonds . 28 February 2013 . The Hindu Business Line . 7 July 2018 .
- News: LIC will invest up to Rs 26,000 crore in IRFC . Saikat . Das . The Economic Times . 5 July 2018 . 6 November 2020 .
- Web site: IRFC Board of Directors . 12 August 2022.
- News: Amitabh Banerjee appointed managing director of IRFC . 7 September 2021 . Tribuneindia News Service . en.
