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Indian Railway Finance Corporation (IRFC) Tax Free Secured Redeemable NCDs details
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Indian Railway Finance Corporation (IRFC) Tax Free Secured Redeemable NCDs details

January 22, 2012 By 2 Comments
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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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