Should you board the IRFC train for investment?

Indian Railway Finance Corporation Ltd. (IRFC), which was established in 1986, is a dedicated financing arm of the Ministry of Railways (MoR). Its sole objective is to raise money from the capital market to part finance the plan outlay of Indian Railways. The money so made available is used for acquisition of rolling stock assets and for meeting other developmental needs of the Indian Railways.

IRFC has announced the issue of ‘Tax Free IRFC Bonds’. The issue size of the bond is Rs. 1,000 crores with a green shoe option to retain oversubscripttion. The issue opens on November 15, 2010 and is available for application till December 3, 2010.

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Should you board the IRFC train for investment?