IRFC woos global investors in Singapore roadshow
In a strategic move to diversify its funding sources and tap into global capital markets, the Indian Railway Finance Corporation (IRFC) successfully concluded a high-profile two-day roadshow for External Commercial Borrowings (ECB) in Singapore.
The delegation, led by Senior General Managers (Finance) Ajay Swami and Rakhi Dua, held intensive one-on-one meetings on 2-3 March with key Japanese and Taiwanese regional investors. The visit marks a significant step in IRFC’s “Version 2.0” strategy, which seeks to broaden its lender base and mobilise long-term funds at competitive rates while strategically managing its currency profile.
The roadshow highlighted IRFC’s evolving role in financing India’s vast railway ecosystem. Beyond its traditional mandate, the corporation has now diversified into funding infrastructure projects with forward and backward linkages to the Railways, including: Dedicated Freight Corridors, Metro Rail Networks, and Port Connectivity Projects.
During the interactions, the delegation emphasised IRFC’s robust financial health, noting its NIL Non-Performing Asset (NPA) status, low operating costs, and strong sovereign linkages. This “whole of Government” approach aims to finance India’s infrastructure expansion in the most cost-effective manner possible.
The roadshow, supported by Mandated Lead Arrangers (MLAs) Sumitomo Mitsui Banking Corporation (SMBC) and Mitsubishi UFJ Financial Group (MUFG), saw keen interest from regional lenders. Investors reportedly expressed satisfaction with IRFC’s expansion into high-quality PSU and infrastructure exposures outside the Ministry of Railways.
Potential lenders assured their support for IRFC’s future ECB borrowings, reposing confidence in the corporation’s credit profile and its strategic shift towards a more diversified customer base.
The successful engagement in Singapore is expected to bolster IRFC’s presence among regional investors, ensuring a steady stream of diversified funding lines to meet the corporation’s future growth requirements.
