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Indian Railway Finance Corp Ltd Tax Free Bonds - Jan 2014 (Apply)

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This PSU is coming out with a tax free bonds offer of Rs. 1500 crore with a total size of Rs. 8663 crore (including green shoe option of Rs. 7163 crore). The Secured Redeemable Non-Convertible Bonds are having a face value of Rs. 1000 each and minimum application is to be made for 5 bonds and in multiples of 1 bond thereafter. Although the bonds will be available in demat and physical mode, the trading will take place in demat mode only. The coupon rate is between 8.23% to 8.65% depending on the category and the term of 10 or 15 years.

These Bonds are rates AAA by CRISIL, ICRA and CARE indicating highest degree of safety regarding timely servicing of financial obligations. The issue opens on January 06, 2014 and will close on or before January 20, 2014. This issue is lead managed by SBI Capital Markets Ltd., AK Capital Services Ltd., Axis Capital Ltd, ICICI Securities Ltd and Kotak Mahindra Capital Co Ltd., SBI Cap Trustee Co Ltd is the Trustee to this offer and Karvy Computershare Pct Ltd is the registrar. Post allotment, debentures will be listed on BSE and NSE.

Conclusion / Investment Strategy

Moderate Investment

Reviewer recommends Subscribing to the issue.

Review By Dilip Davda on December 12, 2019

Review Author

DISCLAIMER: No financial information whatsoever published anywhere here should be construed as an offer to buy or sell securities, or as advice to do so in any way whatsoever. All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decisions. Readers must consult a qualified financial advisor prior to making any actual investment decisions, based on information published here. Any reader taking decisions based on any information published here does so entirely at own risk. Investors should bear in mind that any investment in stock markets are subject to unpredictable market related risks. Above information is based on RHP and other documents available as of date coupled with market perception. Author has no plans to invest in this offer.

(SEBI registered Research Analyst-Mumbai).

About Dilip Davda

Dilip Davda, a freelance journalist

Dilip Davda is veteran journalist associated with stock market since 1978. He is contributing to print and electronic media on stock markets/insurance/finance since 1985.

Dilip Davda is a leading reviewer of public issues and NCDs in the primary stock market in India. The knowledge he gained over 3 decades while working in the stock market and a strong relationship with popular lead managers makes his reviews unique. His detail fundamental and financial analysis of companies coming up with IPO helps investors in the primary stock market. Dilip Davda has a special interest in analyzing the SME companies and writing reviews about their public issues. His reviews are regularly published online and in news papers.


The Indian Railway Finance Corporation Ltd NCD Analysis helps you to understand about the company, offer detail, valuation, capital structure and financial performance. Our SEBI registered NCD Analysts tells you if Indian Railway Finance Corporation Ltd NCD worth investing. The Indian Railway Finance Corporation Ltd NCD Note sets the NCD expectations in systematic way which tells you if Indian Railway Finance Corporation Ltd NCD good to buy (good or bad / yes or no). The NCD Forecast tells you weather to invest in Indian Railway Finance Corporation Ltd NCD by providing NCD recommendations i.e. subscribe, avoid and neutral.