IRFC The dedicated financing arm of the Indian Railways, Indian Railway Finance Corporation (IRFC) initial public offering of about ₹4,600 crore may hit the markets in January 2021, a first by a NBFC in the public sector. The company’s management earlier revealed that it plans to utilise the funds mopped up from the offer. Amitabh Banerjee, Chairman and Managing Director, IRFC said that 10% of the issuance would go to the company’s balance sheet and that will increase its net worth, and from that, the firm will be using it for raising more money from the market. Indian Railways Finance Corporation