IRFC (Indian Railway Finance Corporation) is in the principal business of borrowing funds from the financial markets to finance the acquisition/creation of assets which are then leased out to the Indian Railways or any entity under the Ministry of Railways. As per the DRHP, IRFC is registered with the RBI as an NBFC-ND-IFC (i.e. a Non-Deposit accepting Infrastructure Finance Company). The public issue will be in the form of new shares issued by the company as well as an offer for sale by the Government (which is currently the sole shareholder in IRFC).

How do I apply for the Indian Railway Finance Corporation IPO?

You can apply for the IRFC IPO on Console using any supported UPI app. Once you have entered your bid on Console, you will receive a mandate collect request on your UPI app. On acceptance of the mandate, the bid amount will get blocked in your bank account. Read more.