Indian Railway Finance Corporation (IRFC) has raised Rs 1,415 crore through a 15-year bond issue at a coupon rate of 7.14%. Despite initially aiming to raise Rs 3,000 crore, the company scaled back its issuance due to investor demand and market conditions. The bonds have been rated 'AAA' by leading domestic credit agencies.

The funds raised will be used to support the financing needs of the Indian Railways and its infrastructure projects. IRFC’s decision to issue bonds at a slightly lower rate reflects a broader trend in the market, as other state-owned enterprises have also raised funds at competitive yields.