The Board of Directors of IRFC declared a Second Interim Dividend of ₹1.05 per equity share for the financial year 2025-26. The Record Date for determining eligible shareholders is set for Friday, March 13, 2026. Furthermore, the Board approved a substantial Market Borrowing Programme of up to ₹70,000 crores for FY 2026-27 to meet funding requirements, and revised several key internal policies.
Declaration of Second Interim Dividend
The Board of Directors of Indian Railway Finance Corporation Ltd. (IRFC) convened on Monday, March 09, 2026, and approved the declaration of the Second Interim Dividend for the financial year 2025-26. The approved dividend stands at ₹1.05/- per equity share on shares with a face value of ₹10/- each.
Key Dates for Dividend Payment
- The Record Date to identify eligible shareholders for this dividend payment is set as Friday, March 13, 2026.
- Payment will be made to shareholders whose names appear as beneficial owners or members in the register as of the close of business on the Record Date.
- The dividend payment process is strictly required to be made exclusively through electronic mode; physical instruments like cheques have been discontinued.
Shareholders are urged to immediately update their bank details with their Depositories (for Demat shares) or the Company’s Registrar (for physical shares) to ensure seamless credit. Shareholders must submit requisite tax details (including PAN) on or before Friday, March 13, 2026, as dividend income is taxable.
Market Borrowing Programme Approved
The Board sanctioned the Market borrowing programme by IRFC for the financial year 2026-27. The approved quantum for raising funds is up to ₹70,000 crores. These funds will be raised in one or more tranches from domestic and offshore markets to meet the funding requirements of Indian Railways, fund diversification under IRFC 2.0, and manage committed liabilities.
Modes of Fundraising
The approved borrowing instruments are highly diverse, reflecting comprehensive financing strategies. These include, but are not limited to:
- ECBs, Global Medium Term Note Programme, Foreign Currency Bonds, and Rupee offshore Bonds (Masala Bonds).
- Green Bonds and Environmental, Social and Governance (ESG) bonds.
- Loans from Multilateral Institutions, Export Credit Assistance (ECA) financing, and Official Development Assistance (ODA) Loans.
- Issuance of bonds/debentures such as zero coupon bonds, perpetual bonds, subordinated bonds, and bonds linked to benchmarks like G-Sec / SOFR.
- Securitization of a portion of future lease receivables from the Ministry of Railways (MoR).
Revision of Corporate Policies
In addition to the financial decisions, the Board approved the revision of several key corporate policies to ensure compliance and robust governance. The revised policies cover crucial areas such as:
- Related Party Transactions: Policy & Procedures.
- Conduct and Ethics for Board Members and Senior Management.
- Materiality for Disclosure of Events to Stock Exchanges.
- Dividend Distribution Policy.
- Prohibition of Insider Trading.
- Integrated Stakeholder Grievance Redressal Document.
- Comprehensive Risk Management Policy and Compliance Policy.
The board meeting commenced at 11:55 am and concluded at 1:05 pm on the date of the announcement.
Source: BSE
