IRFC to raise nearly Rs 9k cr via bonds

Dec 14 2012, 02:10 IST
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SummaryIndian Railway Finance Corporation plans to raise nearly Rs 9,000 crore through tax-free bonds by March next year.

Indian Railway Finance Corporation (IRFC) plans to raise nearly Rs 9,000 crore through tax-free bonds by March next year.

“The company shall issue bonds up to an aggregate amount of R8,981.40 crore through this issue during the fiscal 2013 out of the total permissible amount of R10,000 crore as approved by its board through its resolution dated July 31, 2012," IRFC said.

IRFC, a government agency which lends to railway projects, has already raised R1,018.60 crore through the private placements of bonds.

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