Indian Railway Finance Corporation (IRFC) Tax Free Secured Redeemable NCDs details
Business Overview:
The primary objective of the Company is to act as a financing arm for the Indian Railways. The development of the Company’s business is dependent on the MoR’s strategy concerning the growth of the Indian Railways. The Company’s principal business therefore is borrowing funds from the commercial markets to finance the acquisition of new rolling stock which is then leased to the Indian Railways. The Company is committed to funding the development of the Indian railway sector
Strengths of the Company:
Assured net interest margin
Don’t have any NPA’s (Non Performing Assets)
Consistent Financial performance
Competent and committed workforce
Highest possible domestic credit rating
Low financial risk due to government support
Low cost of borrowings
Indian Railway Finance Corporation (IRFC) Tax Key Financials:
|
Particulars (Rs Lakh) |
FY10 |
FY11 |
| Net Revenue |
348393.70 |
384165.20 |
| PAT |
44269.07 |
48520.40 |
| PAT |
12.71% |
13.00% |
| Share Capital |
109100 |
160200 |
| Reserves & Surplus |
231448 |
268396.6 |
| Net Worth |
340548 |
428596.6 |
| Total Debt |
566387.70 |
686774.00 |
| Debt/Equity (x) |
1.66 |
1.60 |
Indian Railway Finance Corporation (IRFC) Tax Free Secured Redeemable NCDs details
|
Particulars |
Details |
|
| Issue Size |
Rs. 5000 Crores |
|
| Issue Opening Date |
27-Jan-12 |
|
| Issue Closing Date |
10-Feb-12 |
|
| Rating |
“AAA” by CRISIL , CARE & ICRA |
|
| Minimum Application |
N.A |
|
| Tenure |
10 Years |
15 Years |
| App More than Rs. 5 Lakhs( QIB, HNI & Corp) |
8.00% p.a. |
8.10% p.a. |
| App Upto Rs. 5 Lakhs ( Retail & HUF) |
8.15% p.a. |
8.30% p.a. |
| Face Value of Bond |
Rs.1,000 |
|
| Listing |
Proposed to be listed both in NSE & BSE |
|
| Interest payment |
Annually |
|
| Issuance |
Demat as well as physical |
|
Indian Railway Finance Corporation (IRFC) Tax Free Secured Redeemable NCDs details Issue Structure:
|
Category I |
Category II |
Category III |
| Upto 45% of Overall Issue Size* | Upto 25% of Overall Issue Size* | Upto 30% of Overall Issue Size* |
| QIB & Corporate | Individuals & HUF applying for more than Rs. 5 Lakhs | Individuals & HUF applying for upto Rs. 5 Lakhs |
| *on first come first serve basis to be determined on the basis of date of receipt of applications duly acknowledged by the Bankers to the Issue | ||
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