Description

Indian Railway Finance Corporation lists new zero-coupon debt securities worth Rs. 298,165 with 10-year maturity on BSE Debt segment.

Summary

Indian Railway Finance Corporation has listed new zero-coupon debt securities on BSE Debt segment effective December 2, 2025. The securities were issued on private placement basis with quantity of 298,165 units, face value of Rs. 100,000, and issue price of Rs. 51,780. The securities carry triple-A credit ratings from CARE, CRISIL, and ICRA, and mature on December 1, 2035.

Key Points

  • Scrip Code: 977334, Scrip ID: 0IRFC35
  • ISIN: INE053F08536
  • Quantity: 298,165 units with market lot of 1
  • Face Value: Rs. 100,000.00 per unit
  • Issue Price/Paid-up Value: Rs. 51,780.00 per unit
  • Zero-coupon instrument (0% interest rate)
  • Credit Rating: CARE AAA/STABLE, CRISIL AAA/STABLE, ICRA AAA/STABLE
  • Trading only in dematerialized form
  • Tick size: 1 paise
  • No put/call options available

Regulatory Changes

No regulatory changes announced in this circular.

Compliance Requirements

  • Trading members must trade these securities only in dematerialized form under ISIN INE053F08536
  • Members should refer to the Placement Memorandum available at https://www.bseindia.com/markets/debt/memorandum_data.aspx for detailed information
  • For clarifications, trading members may contact BSE debt department at 22728352/8597/8995/5753/8915

Important Dates

  • Date of Allotment: December 1, 2025
  • Listing Date: December 2, 2025
  • Date of Redemption: December 1, 2035 (10-year maturity)
  • Notice Date: December 2, 2025

Impact Assessment

This is a routine debt security listing with minimal market impact. The securities are issued on private placement basis and will trade on the BSE Debt segment only. As zero-coupon bonds issued at a deep discount (Rs. 51,780 against face value of Rs. 100,000), they provide fixed return at maturity. The triple-A credit ratings from all three rating agencies indicate highest credit quality. No impact on equity markets or retail investors. The listing expands debt market offerings for institutional investors seeking long-term AAA-rated paper from a government-backed entity.

Impact Justification

Routine debt security listing on private placement basis with no impact on equity trading or broader market operations