IRFC bond issue: The Indian Railway Finance Corporation (IRFC) is set to issue bonds worth up to Rs 3,000 crore on February 26, market sources told news agency Press Trust of India (PTI). The bonds, which have a base issue of Rs 500 crore, include a greenshoe option of Rs 2,500 crore and will mature on February 28, 2034.

This option allows the underwriter to sell more bonds than initially planned if there is higher-than-expected demand. Bidding for these bonds will occur from 10 am to 11 am on the National Stock Exchange of India's (NSE) electronic bidding platform.

The pay-in date for the bonds is February 28 when the exchange of bonds and money will take place between issuers and investors. The bonds have received 'AAA' ratings with a 'stable' outlook from CRISIL, ICRA, and CARE ratings.

Sources indicate that the minimum application for the bonds is Rs 1 crore, with subsequent multiples of Rs 1 lakh. This issuance comes on the heels of several other companies raising funds through bonds on February 22, including Canfin Homes, Manba Finance, Satya Microcapital, Aditya Birla Finance, Krazybee Services Pvt Ltd, Aye Finance, and Lendingkart Finance.

(with PTI inputs)