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Indian Railway Finance 8.48% Nov 2028 NCD

AAA Secured NCD

Indian Railway Finance Corporation

Secured, Rated, Taxable, Redeemable NCD

Browse: AAA rated bonds · bonds maturing in 2028

Current YTM
5.25%
Market YTM
Coupon Rate
8.48%
Per annum
Maturity Date
21 Nov 2028
2.2 Yrs to Maturity
Interest Payment
Annual
Frequency
Face Value
₹1,000,000
Per Bond
Market Position
YTM (Annual)
5.25%
Live, last traded 2026-08-19
10Y G-Sec Benchmark
6.66%
Reference point, not this bond's tenor
Spread over G-Sec
+71 bps
vs 2.2Y G-Sec at 4.54%
Below the median spread for similar-tenor peers
Tenure
2.2 Years
Remaining to maturity
Price vs Yield
— Price (Clean) — Yield (YTM)
2026-08-14 2026-08-19
Cashflow Timeline
21 Nov 2026
Interest Payment
₹84,800.00 / Bond
21 Nov 2027
Interest Payment
₹84,800.00 / Bond
21 Nov 2028
Principal Payment
₹1,000,000.00 / Bond

Next 2 coupons + principal at maturity · per ₹1,000,000 face value

Bond Timeline
— Issue / Maturity | Coupon (projected) ┊ Today
Today Issued 2013-11-21 Matures 2028-11-21
Key Metrics
Coupon Rate
8.48%
YTM (Annual)
5.25%
Credit Rating
AAA
(ICRA)
Remaining Tenure
2.2 Years
Advanced metrics
Modified Duration
1.91 Yrs
Macaulay Duration
2.01 Yrs
Issue Size
₹738 Cr
Minimum Investment
₹1,000,000
(1 Bond)
Market Characteristics
Modified Duration
1.91 Yrs
Price sensitivity per 1% yield move
Payment Frequency
Annual
Last Trade
2026-08-19
BSE
Trades (30 Days)
3
Exchange-reported sessions
Security Status
Secured
No call option
Observations
  • This bond is secured.
  • 3 secondary-market trades recorded in the last 30 days.
  • Coupon is 1.52 percentage points below the median for tracked NCD bonds. (based on 18927 tracked NCD bonds with a stated coupon)
Structured Overview Data as of 8 Aug 2026
Instrument Type
NCD
Issue Date
2013-11-21
Day Count Convention
30/360
Listed Exchange
BSE
Call / Put Option
None disclosed

Issued by Indian Railway Finance Corporation, IRFC-8.48%-21-11-28-B-PVT is a secured, rated, ncd paying a 8.48% p.a. coupon annual. The instrument repays principal on maturity.

Recent Market Prices
Trade DateClean PriceYTM (%)Trades
2026-08-19 106.8000 5.2500 1
2026-08-18 106.3900 5.4000 4
2026-08-14 104.3600 6.3500 1
Data Coverage
DatasetRecordsDetailFreshness
Credit Ratings 1 ICRA 2013-12-31
Rating Actions History 0
Secondary-Market Trades 3 BSE 2026-08-19
Reg52(4) Payment Disclosures 0
Documents
Entity metadata
Source
bse_bonds
Last Updated
8 Aug 2026

Risk warning: This page is for informational purposes only. Bond investments carry credit risk, interest rate risk, and liquidity risk. Credit ratings reflect agency opinion at a point in time. Nothing here constitutes investment advice or a recommendation. Verify all details against the issuer's offer document and the exchange. RetailBonds.in is not a SEBI-registered intermediary. See our full disclaimer.

Frequently Asked Questions
What is the coupon rate on Indian Railway Finance 8.48% Nov 2028 NCD?

Indian Railway Finance 8.48% Nov 2028 NCD carries a coupon of 8.48%, paid annual, on a face value of ₹1,000,000.

When does Indian Railway Finance 8.48% Nov 2028 NCD mature?

Indian Railway Finance 8.48% Nov 2028 NCD matures on 2028-11-21, 2.2 years from today.

What is Indian Railway Finance 8.48% Nov 2028 NCD rated?

Indian Railway Finance 8.48% Nov 2028 NCD is rated AAA by ICRA. As of 2013-12-31.

Is Indian Railway Finance 8.48% Nov 2028 NCD secured?

Indian Railway Finance 8.48% Nov 2028 NCD is a secured bond.

Where does Indian Railway Finance 8.48% Nov 2028 NCD trade?

Indian Railway Finance 8.48% Nov 2028 NCD is listed on BSE.

What yield does Indian Railway Finance 8.48% Nov 2028 NCD currently offer?

The last recorded trade on 2026-08-19 priced Indian Railway Finance 8.48% Nov 2028 NCD at ₹106.80, implying a yield to maturity of 5.25%.

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