India Railway Finance Corporation Ltd. (IRFC) a Government of India (GoI) undertaking, was incorporated on December 12, 1986 as a public limited company. The GOI, Ministry of Railways incorporated the company as a financial arm of the Indian Railways for the purpose of raising the necessary resources for meeting the developmental needs of the Indian Railways and is 100% owned by the President of India acting through the Ministry of Railways (“MoR”).
Bond Issue Size : Rs.8,663 Crs*
*Issue of Rs 1,500 crores with an option to retain over-subscription upto Rs.7,163 crores, aggregating up to the shelf limit of Rs.8,663 crores.
Issue Details:
  • The Bonds are issued in the form of tax-free, secured, redeemable, nonconvertible bonds in the nature of debentures and the interest on the Bonds will not form part of the total income as per provisions u/s. 10 (15) (iv) (h) of I.T. Act, 1961.

  • The Bonds have been rated “CRISIL AAA/Stable” by Credit rating agency CRISIL, “[ICRA] AAA” by ICRA, and “CARE AAA” by CARE which indicates highest degree of safety regarding timely servicing of financial obligations. Such instruments carry lowest credit risk.

  • Allotments shall be on First Come First Serve basis for all categories of investors.
Issue Period
January 06, 2014 -
February 07, 2014
Minimum Application Size
Rs.5,000/- (5 Bonds)
Face Value of 1 Bond
Proposed to be listed on
BOND Snapshot:
Options Series I Series II
Interest Payment Annual Annual
Tenor 10 Years 15 Years
Options/Series of Bonds Series I A Series I B Series II A Series II B
Coupon Rate/Annulised for above 10 Lakhs 8.23% -- 8.40% --
Coupon Rate/Annulised for upto 10 Lakhs -- 8.48% -- 8.65%
The Bonds issue is open to Resident Individuals and HUF through AxisDirect. For more details, please refer to the prospectus. Happy Investing!
Axis Securities Limited, SEBI Reg. No.- NSE-INB/INF/INE 231481632, BSE- INB/INF 011481638,MCX SX-INB/INF/INE 261481635, ARN No. 64610, CDSL-IN-DP-CDSL-693-2013. Main/Dealing off.- Unit No. 2, Phoenix Market City, 15, LBS Road, Near Kamani Junction, Kurla (west), Mumbai-400070, Tel No. – 18001030808/022-61480808, Reg. off.- Axis House, 8th Floor, Wadia International Centre, Pandurang Budhkar Marg, Worli, Mumbai – 400 025. 
Compliance Officer: 
Anand Shaha, E-Mail ID:, Tel No: 022-42671582.