| YEAR EVENTS
1986 - The Company was Incorporated as a public limited company on 12th
December, by the Ministry of Railways as a wholly owned public
sector undertaking for the purpose of raising the necessary
resources for meeting the developmental needs of the Indian
Railways. The Company has the full back-up support of the
Indian Railways in all technical and financial matters and in the
matter of resources.
- The main object of the company is Financing the developmental
needs of the Indian Railways including leasing of assets such as
wagons, diesel locos, coaches, etc.
- The Corporate plan of the Indian Railways conceives of a rapid
modernisation of the system. This process has already been set
in motion in the Seventh Plan itself and will continue space so
that the country has a more reliable and modern Railway System by
the turn of the century. The programme inter-alia comprises:
- (i) Investment in cost-effective technological changes in
important areas of locomotives, passenger coaches and wagon
design;
- (ii) Upgradation of the track structure;
- (iii) Sophistication of the signalling and Telecommunication
facilities and
- (iv) A systematic programme of computerisation towards better
management practices and customer satisfaction.
- A part of the modernisation needs were to be met through the
leasing of assets from the company.
1987 - The Company issued 25,00,000 - 10% (Tax-free) secured redeemable
non-convertible bonds (Ist series) of Rs.1,000 each for cash.
All were taken up. These bonds are redeemable at par on 15th
April 1997.
- Simultaneously, the company privately placed 30,93,954-9%
(Tax-free) secured redeemable non-convertible bonds of Rs.1,000
each. These bonds are also redeemable at par on 15th April,
1997.
1988 - During January, the company issued 40,00,000 - 9% (Tax-free)
secured redeemable non-convertible bonds of Rs.1,000 each for
cash (IInd series). All were taken up. These bonds are
redeemable at par on 26th February, 1998.
1989 - The Company issued 60,00,000 - 9% (Tax-free IIIrd series) secured
redeemable non-convertible bonds of Rs.1000 each of which
50,00,000 bonds were privately placed with financial institutions
The balance 10,00,000 bonds were offered for public subscription.
All the bonds were fully subscribed. These bonds are redeemable
at par on 23rd March, 1999.
- During December, the company issued 100,00,000-9% (Tax-free IVth
series) redeemable non-convertible bonds of Rs.1,000 each of
which 90,00,000 bonds were allotted on private placement basis.
The balance 10,00,000 bonds were offered for public subscription.
All the bonds were taken up.
- These bonds are fully redeemable at par on 12th January, 2000.
- All shares were allotted to the President of India and his
nominees.
1990 - During August, the company privately placed 107,00,000 - 9%
(Tax-free Vth Series) secured, redeemable non-convertible bonds
of Rs.1,000 each for cash. These bonds are redeemable at par on
28th August, 2000.
1991 - As on 31st March, the company owned a fleet of 847 locomotives
(diesel and electric), 2,694 passenger coaches, 34,237 wagons of
4 cranes and the total investment amounted to Rs.3,873.65 crores.
- During February, the company issued 10,00,000 - 9% (Tax-free Vth
series) secured redeemable non-convertible debentures of Rs.1,000
each for cash. All were taken up. These bonds are redeemable
on 18th March, 2001. All the public issue of bonds carry
buy-back facility.
2000 - Indian Railways has tied up with Sarisa Palace Hotel to launch a luxury
service from Delhi to Sariska and back.
2004
-Raised Rs 150 crore through private placement of bonds
2022
-IRFC signs MoU with India Infrastructure Finance Company.
2023
-IRFC and RITES sign MoU to strengthen cooperation in financing & development of Railway Infrastructure Projects.
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