IRFC board approves ₹70,000 crore fundraising plan for FY27

Indian Railway Finance Corporation Ltd on Monday, March 9, approved a fund-raising plan of up to ₹70,000 crore for the financial year 2026-27 to meet its financing requirements.

In an exchange filing, the company said the funds will be raised in one or more tranches from domestic and offshore markets, depending on market conditions and funding needs.

IRFC said the proceeds will be used to meet the funding requirements of Indian Railways, support disbursements under its diversification initiatives, refinance existing borrowings, and for other general corporate purposes.

The company may raise the funds through a range of instruments, including bonds, debentures, external commercial borrowings (ECBs), global medium-term notes, foreign currency bonds, rupee-denominated offshore bonds such as masala bonds, green and ESG bonds, multilateral loans, and other structured financing instruments, subject to regulatory approvals.

The board also declared a second interim dividend of ₹0.75 per equity share of face value ₹10 for FY26.

The company said the record date for determining eligible shareholders is March 13, 2026, and the dividend will be paid within 30 days from the date of declaration.

Additionally, the board approved revisions to several internal policies, including those regarding related-party transactions, dividend distribution, insider trading, risk management, stakeholder engagement and corporate disclosures.

For the December quarter, the state-run company posted a 10.5% rise in its net profit to ₹1,802 crore, which, IRFC said, is the highest-ever quarterly profit reported by the company. However, the revenue moderated by 1.5% to ₹6,661 crore from 6,763 crore in the year-ago quarter.

Shares of IRFC were trading 2.06% down at ₹97.42 as of 3.03 pm on Monday. The stock has lost 21.97% in the last six months.