New Delhi: A senior delegation from Indian Railway Finance Corporation (IRFC), led by Executive Director (Finance) Ms. Deepa Kotnis and Executive Director (Business Development) Sunil Kumar Goel, successfully concluded a two-day ECB (External Commercial Borrowing) roadshow in Tokyo on 26–27 February 2026.
The visit comprised a series of one-on-one meetings with leading Japanese regional investors, aimed at mobilising long-term funds at competitive rates and favourable terms, while strategically diversifying IRFC’s currency profile. The initiative forms part of IRFC’s calibrated approach to optimise its cost of borrowing and enhance access to diversified pools of global capital.
During the interactions, the delegation highlighted IRFC’s strong sovereign linkages, robust asset liability management framework, and its consistent track record in supporting India’s railway infrastructure expansion. Investors expressed keen interest in IRFC’s core railway financing business, given its stable cash flow model and strategic importance to national infrastructure development.
The delegation also showcased IRFC’s recent diversification initiatives into high-quality PSU and infrastructure exposures beyond the Ministry of Railways, reinforcing the corporation’s evolving role as a diversified infrastructure financing institution.
The roadshow was conducted with the support of Mandated Lead Arrangers (MLAs), Sumitomo Mitsui Banking Corporation (SMBC) and Mitsubishi UFJ Financial Group (MUFG), who facilitated structured investor engagements across the Japanese market.
The strong investor response underscores continued global confidence in IRFC’s credit profile and business strategy. The successful completion of the Tokyo roadshow further strengthens IRFC’s presence in the Japanese investor base and is expected to support the corporation’s objective of securing cost-effective, diversified funding lines to meet its growing financing requirements. IRFC has been continually rated at Par with Indian Government by JCRA.
