IRFC

March 17 (Reuters) - Indian Railway Finance Corp Ltd INID.NS:

• IRFC - DIVIDEND 0.80 RUPEES PER SHARE

Source text: ID:nnAZN3K8HV3

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MUMBAI, Feb 12 (Reuters) - Indian Railway Finance Corp (IRFC) has accepted bids worth 30 billion rupees ($345.28 million) for bonds maturing in 15 years, three bankers said on Wednesday.

The company will pay an annual coupon of 7.28% on this issue and had invited coupon and commitment bids from bankers and investors earlier in the day, they said.

IRFC did not reply to a Reuters request for comment.


Here is the list of deals reported so far on February 12:

* Size includes base plus greenshoe for some issues

($1 = 86.8850 Indian rupees)

(Reporting by Khushi Malhotra; Editing by Mrigank Dhaniwala)

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MUMBAI, Feb 10 (Reuters) - Indian Railway Finance Corp INID.NS (IRFC) plans to raise 30 billion rupees ($343.17 million), including a greenshoe option of 25 billion rupees, selling bonds maturing in 15 years, three bankers said on Monday.

The state-run company has invited coupon and commitment bids from bankers and investors on Wednesday, the bankers said.

The company did not immediately reply to a Reuters request seeking comment.

Here is the list of deals reported so far on February 10:

*Size includes base plus greenshoe for some issues

($1 = 87.4200 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)

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Jan 20 (Reuters) - Indian Railway Finance Corp Ltd INID.NS:

• IRFC DEC-QUARTER PROFIT 16.31 BILLION RUPEES

• IRFC DEC-QUARTER TOTAL REVENUE FROM OPERATIONS 67.63 BILLION RUPEES

Source text: ID:nBSE9qKKJC

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MUMBAI, Jan 15 (Reuters) - Indian Railway Finance Corp INID.NS (IRFC) has accepted bids worth 27.80 billion rupees ($321.54 million) for bonds maturing in 10 years, three bankers said on Wednesday.

The state-run company will pay an annual coupon of 7.25% and had invited coupon and commitment bids from bankers and investors earlier in the day, the bankers said.

The company did not immediately reply to a Reuters request seeking comment.

Here is the list of deals reported so far on Jan. 15

*Size includes base plus greenshoe for some issues

($1 = 86.4580 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)

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Jan 14 (Reuters) - Indian Railway Finance Corp Ltd INID.NS:

• EMERGES AS L1 BIDDER FOR 31.67 BILLION RUPEES FINANCING

• PROJECT UNDERTAKEN BY NTPC AND JHARKHAND BIJLI VITRAN NIGAM JV

Source text: ID:nNSE48VMGR

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MUMBAI, Dec 24 (Reuters) - Indian Railway Finance Corp INID.NS (IRFC) has accepted bids worth 28.40 billion rupees ($333.36 million) for bonds maturing in 10 years, three bankers said on Tuesday.

The state-run company will pay an annual coupon of 7.15% and invited coupon and commitment bids from bankers and investors earlier in the day, the bankers said.

The company did not immediately reply to a Reuters request seeking comment.

Here is the list of deals reported so far on Dec. 24:

*Size includes base plus greenshoe for some issues

($1 = 85.1930 Indian rupees)

(Reporting by Dharamraj Dhutia
Editing by Abinaya Vijayaraghavan)

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MUMBAI, Dec 23 (Reuters) - Indian Railway Finance Corp INID.NS (IRFC) plans to raise 30 billion rupees ($353.01 million), including a greenshoe option of 25 billion rupees, selling bonds maturing in 10 years, three bankers said on Monday.

The state-run company has invited coupon and commitment bids from bankers and investors on Tuesday, the bankers said.

The company did not immediately reply to a Reuters request seeking comment.

Here is the list of deals reported so far on Dec. 23:

*Size includes base plus greenshoe for some issues

($1 = 84.9830 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)

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MUMBAI, Dec 13 (Reuters) - Indian Railway Finance Corp INID.NS (IRFC) has accepted bids worth 23.45 billion rupees ($276.33 million) for bonds maturing in 10 years, three bankers said on Friday.

The state-run company will pay an annual coupon of 7.09% on the issue and invited coupon and commitment bids from bankers and investors on Thursday, the bankers said.

The company did not immediately reply to a Reuters request seeking comment.

Here is the list of deals reported so far on Dec. 13:

*Size includes base plus greenshoe for some issues

($1 = 84.8620 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Abinaya Vijayaraghavan)

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MUMBAI, Dec 11 (Reuters) - Indian Railway Finance Corp (IRFC) INID.NS plans to raise 30 billion rupees ($353.45 million), including a greenshoe option of 25 billion rupees, by selling bonds maturing in 10 years, three bankers said on Wednesday.

The state-run company has invited coupon and commitment bids from bankers and investors for the issue on Thursday, the bankers said.

The company did not immediately reply to a Reuters request seeking comment.

Here is the list of deals reported so far on Dec. 11:

*Size includes base plus greenshoe for some issues

($1 = 84.8770 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Abinaya Vijayaraghavan
)

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MUMBAI, Nov 11 (Reuters) - Indian Railway Finance Corp (IRFC) INID.NS has accepted bids worth 14.15 billion rupees ($167.7 million) for bonds maturing in 15 years, three bankers said on Monday.

The state-run company will pay an annual coupon of 7.15% on this issue and had invited bids from bankers and investors for the issue earlier in the day, the bankers said.

The company did not immediately reply to a Reuters email seeking comment.

Here is the list of deals reported so far on Nov. 11:

*Size includes base plus greenshoe for some issues

($1 = 84.3775 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Varun H K)

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MUMBAI, Nov 8 (Reuters) - Indian Railway Finance Corp INID.NS plans to raise 30 billion rupees ($355.80 million), including a greenshoe option of 25 billion rupees, selling bonds maturing in 15 years, three bankers said on Wednesday.

The state-run company has invited bids from bankers and investors for the issue on Monday, the bankers said.

The company did not immediately reply to a Reuters email seeking comment.

Here is the list of deals reported so far on Nov. 8

*Size includes base plus greenshoe for some issues

($1 = 84.3180 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Janane Venkatraman)

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Nov 4 (Reuters) - Indian Railway Finance Corp Ltd INID.NS:

• INDIAN RAILWAY FINANCE CORP SEPT-QUARTER PROFIT 16.13 BILLION RUPEES

• INDIAN RAILWAY FINANCE CORP SEPT-QUARTER TOTAL INCOME 69 BILLION RUPEES

Source text: ID:nBSEbZx2kM

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Oct 9 (Reuters) - Indian Railway Finance Corp Ltd INID.NS:

• GOVERNMENT NAMES MANOJ KUMAR DUBEY AS CHAIRMAN, MD, AND CEO

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Oct 8 (Reuters) - Indian Railway Finance Corp Ltd INID.NS:

• APPROVED FINANCING OF 20 BOBR RAKES TO NTPC FOR UP TO 7 BILLION RUPEES

Source text for Eikon: ID:nBSE7FV27m

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MUMBAI, Aug 28 (Reuters) - Indian Railway Finance Corp INID.NS has accepted bids worth 29 billion rupees ($345.4 million)for bonds maturing in 10 years, three bankers said on Wednesday.

The state-run company had invited bids from bankers and investors for the issue earlier in the day.

Here is the list of deals reported so far on Aug. 28:

*Size includes base plus greenshoe for some issues

($1 = 83.9510 Indian rupees)

(Reporting by Bhakti Tambe; Editing by Savio D'Souza)

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MUMBAI, Aug 23 (Reuters) - Indian Railway Finance Corp INID.NS plans to raise up to 30 billion rupees ($357.72 million), including a greenshoe of 25 billion rupees, through bonds maturing in 10 years, three bankers said on Friday.

The state-run company has invited bids from bankers and investors for the issue on Wednesday, they said.

Here is the list of deals reported so far on Aug. 23

*Size includes base plus greenshoe for some issues

($1 = 83.8920 Indian rupees)

(Reporting by Bhakti Tambe and Dharamraj Dhutia)

(([email protected]))

MUMBAI, July 29 (Reuters) - Indian Railway Finance Corp (IRFC) INID.NS has accepted bids worth 29.60 billion rupees ($353.5 million) for bonds maturing in five years, three bankers said on Monday.

The state-run company has set a coupon of 7.37% on this issue. It had invited bids from bankers and investors for the issue earlier in the day.

Here is the list of deals reported so far on July 29:

*Size includes base plus greenshoe for some issues

($1 = 83.7290 Indian rupees)

(Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by Savio D'Souza)

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MUMBAI, July 25 (Reuters) - Indian Railway Finance Corp INID.NS plans to raise up to 30 billion rupees ($358.38 million), including a greenshoe of 25 billion rupees, through bonds maturing in five years, three bankers said on Thursday.

The state-run company has invited bids from bankers and investors for the issue on Monday, they said.

Here is the list of deals reported so far on July 25:

* Size includes base plus greenshoe for some issues

($1 = 83.7110 Indian rupees)

(Reporting by Bhakti Tambe; Editing by Janane Venkatraman

)

(([email protected]))

By Nikunj Ohri and Manoj Kumar

NEW DELHI, July 12 (Reuters) - India plans to overhaul more than 200 state-run firms to make them more profitable, signalling a departure from Prime Minister Narendra Modi's aggressive privatisation programme that has struggled to take off, government sources said.

The programme to privatise a major portion of India's lumbering $600 billion state sector announced in 2021, had slowed ahead of the general election in April-May and now faces more resistance after Modi lost his majority in parliament and had to rely on coalition allies to return to office.

Expected to be unveiled as part of the annual budget on July 23 by Finance Minister Nirmala Sitharaman, the new plans include selling large parcels of underutilised land owned by these companies and monetisation of other assets, said two officials who are aware of the policy. Some aspects are yet to be fine-tuned, they added.

The aim is to raise $24 billion in the current April-March fiscal year and re-invest the funds in the companies, while setting five-year performance and production targets for each company, instead of short-term targets.

The plans to overhaul state firms have not been reported previously.

The officials declined to be identified as they were not authorised to speak on confidential deliberations.

The finance ministry did not respond to requests for comment.

In an interim budget presented before the election, the government did not provide any figures on stake sales for the first time in more than a decade.

"The government is shifting focus from indiscriminate asset sales to enhancing intrinsic value of state-owned companies," said one of the officials.

Among other plans, the government intends to introduce succession planning in majority-owned companies alongside a proposal to train 230,000 managers across firms to prepare them for senior roles, the officials said.

Currently, the government appoints top executives in state-owned companies.

The government is likely to implement a plan that includes training of managers, professional recruitment to company boards and incentives for high performance from the 2025/26 fiscal year, with the expectation that increased autonomy would make companies more competitive.

The 2021 announcement to sell most state-run companies included two banks, one insurance company and firms in steel, energy and pharmaceutical sectors besides closure of loss-making companies.

But India has been able to only complete the sale of debt-ridden Air India to the Tata Group, while rolling back plans to sell some others. Only a 3.5% stake in LIC has been sold besides shares in few other companies.

Hardeep Puri, India's oil minister, said last week a plan to sell state-owned Bharat Petroleum Corp BPCL.NS was no longer on the table as the company was making almost as much profit in a year as the price it was to be sold for.

Sunil Sinha, chief economist at India Ratings, the local arm of Fitch ratings agency, said the sale of government companies, marred by allegations of "selling family silver" at a cheaper price, would be difficult to push after Modi's reduced majority in parliament.

"This (privatisation) can actually snowball into a political slugfest...recouping it may become very difficult and they may have to pay a political price for it."

BOOMING MARKET

Despite hurdles in privatisation and stake sales, the overall market valuation of state-run firms has more than doubled in the past one year on hopes of reforms in the sector.

The BSE PSU index .BSEPSU, which tracks state-owned companies, has surged over 100% in the last one year, outperforming the benchmark BSE Index's .BSESN 22% rise.

"We find the valuations of many PSU stocks to be quite bizarre, when compared with their fundamentals," Sanjeev Prasad of Kotak Institutional Equities said in a note.

"Some of these companies will require extraordinary assumptions and a massive turnaround in their operations (and financials) to justify their current market caps."

But the government views the market's response as a mark of investor confidence, said a senior official at the NMDC NMDC.NS, India's state-run iron ore company.

Looking ahead, the government expects its reforms would translate into higher profits and, subsequently, increased returns for the state, the official said.

State firms were expected to pay substantially higher dividends to the government, compared to earlier estimates of 480 billion rupees ($5.8 billion) in 2024/25, said the second government source.

Analysts however said India risked missing the opportunity to cash in on the booming valuations of state companies.

The government could raise about 11.5 trillion rupees ($137.75 billion) at current market capitalisation by selling minority stakes in state-owned companies, while maintaining 51% stake, CareEdge Ratings said in a note last week.

"The conclusion of the election season, combined with stock market hovering around all-time highs, provides a perfect opportunity to advance some significant divestment initiatives," said Rajani Sinha, chief economist, CareEdge Ratings.

($1 = 83.5320 Indian rupees)

(Additional reporting by Sarita Chaganti Singh in NEW DELHI, Jatindra Dash in BHUBANESWAR; Graphics by Bharat Rajeswaran; Editing by Raju Gopalakrishnan)

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MUMBAI, July 11 (Reuters) - Indian Railway Finance Corp (IRFC) INID.NS has set a 7.39% coupon for bonds maturing in 10 years, three bankers said on Thursday.

The state-run company has accepted bids worth 30 billion rupees ($359.2 million) and had invited bids from bankers and investors earlier in the day, they said.

Here is the list of deals reported so far on July 10:

*Size includes base plus greenshoe for some issues

($1 = 83.5310 Indian rupees)

(Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by Varun H K)

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MUMBAI, July 9 (Reuters) - Indian Railway Finance Corp INID.NS plans to raise up to 30 billion rupees ($359.35 million), including a greenshoe of 25 billion rupees, through bonds maturing in 10 year, three bankers said on Tuesday.

The state-run company has invited bids from bankers and investors for the issue on Thursday, they said.

Here is the list of deals reported so far on July 9:

($1 = 83.4845 Indian rupees)

(Reporting by Bhakti Tambe; Editing by Janane Venkatraman

)

(([email protected]))

MUMBAI, June 11 (Reuters) - Indian Railway Finance Corp (IRFC) INID.NS has accepted bids worth 30 billion rupees ($359.3 million) through bonds maturing in 10 years, three bankers said on Monday.

The state-run company has set a coupon of 7.44% and had invited coupon and commitment bids from investors and bankers earlier in the day.

This would be IRFC's first bond issuance in the current financial year. In March, IRFC raised 26.16 billion rupees through the sale of five-year and three-month bonds at a 7.46% coupon.

Here is the list of deals reported so far on June 11:

* Size includes base plus greenshoe for some issues

($1 = 83.4975 Indian rupees)

(Reporting by Bhakti Tambe and Dharamraj Dhutia; Editing by Eileen Soreng)

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MUMBAI, June 10 (Reuters) - Indian Railway Finance Corp INID.NS(IRFC) plans to raise 30 billion rupees ($359.26 million), which includes 25 billion rupees of a greenshoe option, selling bonds maturing in 10 years, three bankers said on Monday.

The state-run company has invited coupon and commitment bids from investors and bankers on Tuesday, they said.

This would be IRFC's first bond issuance in this financial year. In March, IRFC raised 26.16 billion rupees through sale of five-year and three-month bonds at a 7.46% coupon.

Here is the list of deals reported so far on June 10:

*Size includes base plus greenshoe for some issues

($1 = 83.5040 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Subhranshu Sahu)

(([email protected]))

May 20 (Reuters) - Indian Railway Finance Corp Ltd INID.NS:

• MARCH-QUARTER PROFIT 17.17 BILLION RUPEES VERSUS PROFIT 12.85 BILLION RUPEES

• MARCH-QUARTER TOTAL REVENUE FROM OPERATIONS 64.73 BILLION RUPEES VERSUS 61.94 BILLION RUPEES

• APPROVED RAISING OF RESOURCES FOR FY2024-25 UP TO 500 BLN RUPEES FROM BOTH DOMESTIC AND INTERNATIONAL MARKET

Source text for Eikon: ID:nBSE59V2HP

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March 27 (Reuters) - Indian Railway Finance Corp Ltd INID.NS:

• INDIAN RAILWAY FINANCE CORP LTD - UMA RANADE ASSUMED AADDITIONAL CHARGE OF POST OF CHAIRMAN, MD

Source text for Eikon: ID:nBSE7K67Lw

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March 26 (Reuters) - Indian Railway Finance Corp Ltd INID.NS:

• UMA RANADE GIVEN ADDITIONAL CHARGE OF POST OF CHAIRMAN & MD OF CO

Source text for Eikon: ID:nBSE4nMDgD

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MUMBAI, March 14 (Reuters) - Indian Railway Finance Corp (IRFC) INID.NS has accepted bids worth 26.16 billion rupees ($315.7 million) for bonds maturing in five years and three months, three bankers said on Thursday.

The state-run company has set a coupon of 7.46% and had invited coupon and commitment bids from investors and bankers earlier in the day, they said.

In February, IRFC raised 30 billion rupees through sale of 10-year bonds at a 7.44% coupon.

Here is the list of deals reported so far on March 14:

*Size includes base plus greenshoe for some issues

($1 = 82.8660 Indian rupees)

(Reporting by Bhakti Tambe and Dharamraj Dhutia; Editing by Savio D'Souza)

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MUMBAI, March 12 (Reuters) - Indian Railway Finance Corp (IRFC) INID.NS plans to raise 30 billion rupees ($362.5 million), which includes a greeenshoe option of 25 billion rupees, through sale of bonds maturing in five years and three months, three bankers said on Tuesday.

The state-run company has invited coupon and commitment bids from investors and bankers on Thursday, they said.

In February, IRFC had raised 30 billion rupees through sale of 10-year bonds at 7.44% coupon.

Here is the list of deals reported so far on March 12:

* Size includes base plus greenshoe for some issues

($1 = 82.7579 Indian rupees)

(Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by Varun H K)

(([email protected]))

MUMBAI, Feb 26 (Reuters) - Indian Railway Finance Corp INID.NS (IRFC) has set a coupon of 7.44% on bonds maturing in 10 years, three bankers said on Monday.

The state-run company has accepted bids worth 30 billion rupees (nearly $362 million) for this issue, for which it had invited bids from investors and bankers earlier in the day.

Here is the list of deals reported so far on Feb. 26:

($1 = 82.8890 Indian rupees)

(Reporting by Bhakti Tambe; Editing by Mrigank Dhaniwala)

(([email protected]))