Indian Railway Finance Corporation

The coupon rate is the rate of interest that the entity will pay to investors

The Board has also approved the appointment of Ajoy Choudhury as Chief Risk Officer on fixed tenure basis for two years.

FORTUNE'S FAVOURED FEW: Sixty-eight companies blaze a trail, capturing 56% of India's market; PSUs take the lead

The government is planning to sell a part of its holding in state-owned Indian Railway Finance Corp (IRFC) through an offer for sale (OFS) in the current fiscal, an official said on Wednesday. The government currently holds an 86.36 per cent stake in the financing arm of the Indian Railways. The official said that an inter-ministerial group (IMG) comprising senior officers from the Department of Investment and Public Asset Management (DIPAM) and the Railways Ministry has started consultations to decide on the quantum of stake dilution. To make the central public sector enterprise compliant to Sebi's minimum public shareholding (MPS) norm, the government has to dilute 11.36 per cent stake in IRFC. As per MPS norm, a listed entity must have a minimum public float of 25 per cent within five years of listing. "We are assessing investor appetite before deciding on the quantum of dilution," the official told PTI. Shares of IRFC were trading at Rs 50.97 a share, up 0.14 per cent over ..

According to a senior official, Railways' prime borrowing arm, Indian Railway Finance Corporation (IRFC), has zero borrowings for the fiscal under review

Total income of IRCTC grew 97.55% to Rs 831.79 crore from Rs 421.05 crore YoY

Indian Railway Finance Corporation (IRFC) on Thursday reported a 14 per cent increase in its profit at Rs 1,714 crore in the second quarter ended September 30, 2022. The company, which is the dedicated market borrowing arm of the Indian Railways, had earned a profit of Rs 1,501 crore in the same quarter of previous year. The revenue from operations for Q2 FY23 also grew by 23.88 per cent to Rs 5,810 crore as against Rs 4,690 crore reported in the same period of last year, IRFC said in a statement. Net worth stood at Rs 43,549 crore and Assets Under Management (AUM) at Rs 4,39,070 crore as on September 30, 2022, it said. The board of the company also approved an interim dividend of 8 per cent of face value of Rs 10 each, that is Rs 0.80 per share for 2022-23, it said. The cumulative funding to the Indian railway sector by IRFC has crossed Rs 5.05 lakh crore mark by the end of the Q2 FY23.

Banerjee joined IRFC in 2019 after serving as the director of finance at Konkan Railways

The net profit of the Indian Railway Finance Corporation (IRFC) Limited for the financial year 2021-22 stood at Rs 6,089.84 crore, an increase of 37.89 per cent against Rs 4,416.13 crore in the last fiscal, the company said on Friday. The 35th annual general meeting of the IRFC was held under the chairmanship of its Chairman and Managing Director, Amitabh Banerjee, on Friday. Addressing the AGM, Banerjee said, "The IRFC reported a strong financial performance during the year under review, with all-time high revenue and profits. The net profit of the IRFC for FY22 stood at Rs 6,089.84 crore, an increase of 37.89 per cent against Rs 4,416.13 crore in the last fiscal." Banerjee further informed that the total revenue from operations grew by 28.71 per cent year-on-year, amounting to Rs 20,298.27 crore, against Rs 15,770.22 crore in the last fiscal. The company has declared a total dividend of Rs 1,829.59 crore, which works out to 30.04 per cent of the profit after tax (PAT) for FY22, he

Vehicle registrations and railway freight numbers came in lower than before

Revenue from operations for FY22 grew by 28.71 per cent and stood at Rs 20,298.27 crore this fiscal as against Rs 15,770.22 crore a year ago

At current market price, IRFC has market capitalisation of Rs 32,410 crore-almost equal to its book value

Market players said the response was lukewarm when compared to some of the recent issues

The offer received bids for 1,52,64,04,775 shares against 1,24,75,05,993 shares on offer, as per the data available with NSE

Employee quota lapped up by over 13 times. HNI and institutional book saw only a few bids

Centre for the first time exercises provision for IRFC issue

The initial public offering of Indian Railway Finance Corporation, worth over Rs 4,600 crore, will open on January 18 and close on January 20. The price band of the IPO will be of Rs 25-26 per share

RailTel Corporation of India, Indigo Paints, Home First Finance Company, Indian Railway Finance Corporation (IRFC), and Suryoday Small Finance Bank are among the companies looking to tap the market

Home First Finance, Indian Railway Finance Corporation and Equitas Small Finance Bank are among the latest crop of companies to secure market regulator green light for IPO

Aims at listing by financial year-end or Q1 of FY19