Indian Railway Finance Corporation

Indian Railway Finance Corporation
Company typePublic
ISININE053F01010
IndustryFinancial services
Founded12 December 1986[1]
HeadquartersNew Delhi, India
Key people
Smt.Shelly Verma [2]
(Chairman & MD)
Productsfinancial
Services
  • Leasing
  • Lending
  • Borrowing
RevenueIncrease ₹25,900.45 crore (US$3.2 billion) (2024)[3]
Increase ₹25,760.39 crore (US$3.2 billion) (2024)[3]
Increase ₹6,068.73 crore (US$760 million) (2024)[3]
Total assetsIncrease ₹497,014.60 crore (US$62 billion) (2024)[4]
Total equityIncrease ₹18,585.51 crore (US$2.3 billion) (2024)[4]
OwnerGovernment of India
Websiteirfc.co.in

Indian Railway Finance Corporation (IRFC) is an Indian public sector undertaking[5] engaged in raising financial resources for expansion and running through capital markets and other borrowings.[6] The Government of India owns a majority stake in the company, while the Ministry of Railways has the administrative control.[7]

History[edit]

IRFC was founded by A.Kishore.[1] It started borrowing from the market in 1987–88.

The company[edit]

IRFC raises money through financial bonds and from banks and financial institutions.[8][9] In October 15, 2022 Smt.Shelly Verma was appointed as the Managing Director of the company.[10]

The company announced its initial public offering on 18 January 2021[11] and got listed on the National Stock Exchange of India / Bombay Stock Exchange on 29 January 2021.

Board of directors[edit]

Current Board of Directors of Indian Railway Finance Corporation includes Amitabh Banerjee as Chairman and Managing Director, Shelly Verma as Director (Finance) & Chief Financial Officer, Baldeo Purushartha as Nominee Director, Bhaskar Choradia as Nominee Director, Vallabhbhai Maneklal Patel as Non-Official Independent Director, and Sheela Pandit as Non-Official Independent Director.[12]

See also[edit]

  • Rail Vikas Nigam, involved in building rail infrastructure required by the Indian railways.

References[edit]

  1. ^ a b Jha, J. K. (17 January 2021). "Indian Railway Finance Corporation IPO: Opens tomorrow: Key details an investor should know before subscribing". www.thehansindia.com. Retrieved 11 September 2021.
  2. ^ "Chairman & Managing Director". IRFC. Retrieved 24 September 2023.
  3. ^ a b c "P/L Account 3.02.2024".
  4. ^ a b "Balance Sheet 1.01.2024".
  5. ^ "IRFC, HUDCO tax free bonds closing date entended, should you invest?". Economic Times.
  6. ^ "IRFC, Rural Electrification Corp, IIFC eye Rs 12,000 crore through tax-free bonds". Economic Times.
  7. ^ "Maharatna, Navratna and Miniratna CPSEs". dpe.gov.in. Department of Public Enterprises (Indian Government). Retrieved 28 September 2021.
  8. ^ "Select institutions can raise Rs 50,000 cr tax-free bonds". The Hindu Business Line. 28 February 2013. Retrieved 7 July 2018.
  9. ^ Das, Saikat (5 July 2018). "LIC will invest up to Rs 26,000 crore in IRFC". The Economic Times. Retrieved 6 November 2020.
  10. ^ "Amitabh Banerjee appointed managing director of IRFC". Tribuneindia News Service. Retrieved 7 September 2021.
  11. ^ "IRFC IPO: First IPO Of 2021 To Open On January 18: Key Things To Know". NDTV.com. 13 January 2021. Retrieved 2 August 2021.
  12. ^ "IRFC Board of Directors". Retrieved 12 August 2022.

External links[edit]

Retrieved from "https://en.wikipedia.org/w/index.php?title=Indian_Railway_Finance_Corporation&oldid=1202728237"