Indian Railway Finance Corporation

Indian Railway Finance Corporation (IRFC) is a finance arm of the Indian Railways.[3] It raises financial resources for expansion and running through capital markets and other borrowings.[4]

Indian Railway Finance Corporation

Type	Public Sector Undertaking
Industry	Financial services
Founded	12 December 1999
Headquarters	New Delhi, India
Key people	Amitabh Banerjee (Chairman & MD)
Products	financial
Services	Leasing Lending borrowing
Revenue	₹13,823.45 crore (US$1.9 billion) (2020)[1]
Operating income	₹13,740.39 crore (US$1.9 billion) (2020)[1]
Net income	₹3,658.73 crore (US$510 million) (2020)[1]
Total assets	₹206,603.60 crore (US$29 billion) (2019)[2]
Total equity	₹18,585.51 crore (US$2.6 billion) (2019)[2]
Owner	Government of India
Number of employees	24 (March 2019)
Parent	Indian Railways
Website	irfc.nic.in

History

IRFC started borrowing from the market in 1987–88.

The company

IRFC raises money through financial bonds and from banks and financial institutions.[5][6]

The company will have an initial public offering in 2021 before being listed on the National Stock Exchange of India / Bombay Stock Exchange.

References

1. "P/L Account 31.03.2020".
2. "Balance Sheet 31.03.2019".
3. "IRFC, HUDCO tax free bonds closing date entended, should you invest?". Economic Times.
4. "IRFC, Rural Electrification Corp, IIFC eye Rs 12,000 crore through tax-free bonds". Economic Times.
5. "Select institutions can raise Rs 50,000 cr tax-free bonds". The Hindu Business Line. 28 February 2013. Retrieved 7 July 2018.
6. Das, Saikat (5 July 2018). "LIC will invest up to Rs 26,000 crore in IRFC". The Economic Times. Retrieved 6 November 2020.

External links

• Official site