2 reasons why IRFC shares are in focus today
Meanwhile, on equity side, the government has decided against exercising the oversubscription option in its current OFS.
- Feb 26, 2026,
- Updated Feb 26, 2026 9:14 AM IST
Shares of Indian Railway Finance Corporation (IRFC) are likely to be in focus on Thursday following the state-owned railway financing arm's securing a massive offshore loan, while the government simultaneously announced a key change to its offer for sale (OFS).
In an exchange filing post-market hours on Wednesday, IRFC announced that it has signed a loan agreement to raise the Japanese yen equivalent of $400 million. The funds will be raised through an External Commercial Borrowing (ECB) route.
This five-year, unsecured loan is benchmarked to the Tokyo Overnight Average Rate (TONAR). Additionally, IRFC partnered with a banking consortium that included the GIFT City branches of Sumitomo Mitsui Banking Corporation (SMBC) and MUFG Bank, the filing said.
It follows a similar, successful raise of a JPY equivalent of a $300 million facility back in December 2025, the company said.
"The transaction will contribute towards optimising our weighted average borrowing cost, deepening our engagement with global capital markets, and strengthening our ability to support the ongoing expansion and modernisation of railway infrastructure that remains integral to India's growth and nation-building," said Manoj Kumar Dubey, IRFC Chairman and Managing Director & CEO.
Meanwhile, on the equity side, the government has decided against exercising the oversubscription option in its current OFS. Initially, the promoter proposed a base offer to offload up to 261,370,120 equity shares, equating to a 2% stake, with a ‘greenshoe’ option to sell an additional 2%, the company said in another exchange filing on Wednesday.
During the T-Day bidding for non-retail investors on February 25, there was an undersubscription of 11,804,243 shares. As a result, the total offer size remains capped at the base size of just over 26.13 crore shares, it said.
On Thursday, February 26, the bidding opens for retail investors, who will have access to 37,941,255 shares, representing 14.52% of the base offer. Furthermore, a tranche of 25,000 shares has been distinctly reserved for IRFC employees.
On Wednesday, shares of IRFC declined 4.43% to settle at Rs 104.55 apiece on the BSE against its previous close of Rs 109.40 per share.
Shares of Indian Railway Finance Corporation (IRFC) are likely to be in focus on Thursday following the state-owned railway financing arm's securing a massive offshore loan, while the government simultaneously announced a key change to its offer for sale (OFS).
In an exchange filing post-market hours on Wednesday, IRFC announced that it has signed a loan agreement to raise the Japanese yen equivalent of $400 million. The funds will be raised through an External Commercial Borrowing (ECB) route.
This five-year, unsecured loan is benchmarked to the Tokyo Overnight Average Rate (TONAR). Additionally, IRFC partnered with a banking consortium that included the GIFT City branches of Sumitomo Mitsui Banking Corporation (SMBC) and MUFG Bank, the filing said.
It follows a similar, successful raise of a JPY equivalent of a $300 million facility back in December 2025, the company said.
"The transaction will contribute towards optimising our weighted average borrowing cost, deepening our engagement with global capital markets, and strengthening our ability to support the ongoing expansion and modernisation of railway infrastructure that remains integral to India's growth and nation-building," said Manoj Kumar Dubey, IRFC Chairman and Managing Director & CEO.
Meanwhile, on the equity side, the government has decided against exercising the oversubscription option in its current OFS. Initially, the promoter proposed a base offer to offload up to 261,370,120 equity shares, equating to a 2% stake, with a ‘greenshoe’ option to sell an additional 2%, the company said in another exchange filing on Wednesday.
During the T-Day bidding for non-retail investors on February 25, there was an undersubscription of 11,804,243 shares. As a result, the total offer size remains capped at the base size of just over 26.13 crore shares, it said.
On Thursday, February 26, the bidding opens for retail investors, who will have access to 37,941,255 shares, representing 14.52% of the base offer. Furthermore, a tranche of 25,000 shares has been distinctly reserved for IRFC employees.
On Wednesday, shares of IRFC declined 4.43% to settle at Rs 104.55 apiece on the BSE against its previous close of Rs 109.40 per share.