Indian Railway Finance Corporation has recently updated and upsized its
global medium term note programme, pursuant to which the aggregate principal amount of notes that may be issued under the Programme has been increased from USD 2 billion to
USD 4 billion. The Programme is listed on the Singapore Exchange Securities Trading (SGX)
and the India International Exchange (IFSC) (INX).
Further, in connection with the above mentioned Programme, IRFC, rated Baa3 (Negative) / BBB- (Stable) /
BBB- (Negative) by Moody s / S&P / Fitch, respectively, has mandated BNP PARIBAS, DBS Bank,
HSBC, MUFG, SBICAP and Standard Chartered Bank as Joint Lead Managers and Joint Bookrunners to
Shares of Indian Railway Finance Corporation (IRFC) were trading at Rs 25.15 at 10:15 IST on the BSE, a discount of 3.27% over the initial public offer price of Rs 26.The stock was listed at Rs 25, a discount of 3.85% to the initial public offer (IPO) price. So far the stock hit a high of Rs 25.50 and low of Rs 24.30. On the BSE, 1.21 crore shares were traded on the counter so far.
The IPO of IRFC was subscribed 3.49 times. The issue opened for subscription on 18 January 2021 and closed on 20 January 2021. The price band for the IPO was set at Rs 25-26 per share.
The qualified institutional buyers (QIBs) category was subscribed 3.78 times. The retail individual investors category was subscribed 3.66 times. The non-institutional investors category was subscribed 2.67 times.
Read more about Adani Ports & Special Economic Zone to raise USD 500 mn in Senior Notes on Business Standard. The Company intends to use the proceeds from the issue of Notes, together with cash on hand of the Company, to fund the proposedTender Offer and to redeem, for cash, any and all of its Senior Notes due 2022 and if the Tender Offer and the
The Reserve Bank of India, in the January 2021 issue of its monthly Bulletin stated that 2020 turned out to be a year in which everything changed. The year 2021 has commenced with countries across the world in a massive vaccination drive. In India, recent shifts in the macroeconomic landscape have brightened the outlook, with GDP in striking distance of attaining positive territory and inflation easing closer to the target. Financial markets remain ebullient with EMEs receiving strong portfolio inflows and India on track for receiving record annual inflows of foreign direct investment.
Structural changes in the Indian economy and shifts in pattern of India s foreign trade warrant updates to the broad (existing 36-currency-based) indices of nominal/real effective exchange rate (NEER/REER) of the Indian rupee. This base year is shifted from 2004-05 to 2015-16; and the existing basket is expanded from 36 to 40 currencies, with the inclusion of eight new currencies and exclusion of four
Read more about Turnaround hopes for rupee fade over RBI s stance on forex reserves on Business Standard. The rupee is under pressure to rise on heavy foreign inflows