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Indian Railway Finance Corpo… 7.64% Mar 2031 NCD

AAA Secured NCD

Indian Railway Finance Corporation Limited

Secured, Rated, Taxable, Redeemable NCD

Browse: AAA rated bonds · bonds maturing in 2031

Current YTM
4.13%
Market YTM
Coupon Rate
7.64%
Per annum
Maturity Date
22 Mar 2031
4.6 Yrs to Maturity
Interest Payment
Annual
Frequency
Face Value
₹1,000
Per Bond
Market Position
YTM (Annual)
4.13%
Live, last traded 2026-08-26
10Y G-Sec Benchmark
6.68%
Reference point, not this bond's tenor
Spread over G-Sec
-250 bps
vs 4.6Y G-Sec at 6.63%
Below the median spread for similar-tenor peers
Tenure
4.6 Years
Remaining to maturity
Price vs Yield
— Price (Clean) — Yield (YTM)
2026-08-12 2026-08-26
Cashflow Timeline
22 Mar 2027
Interest Payment
₹76.40 / Bond
22 Mar 2028
Interest Payment
₹76.40 / Bond
22 Mar 2029
Interest Payment
₹76.40 / Bond
22 Mar 2030
Interest Payment
₹76.40 / Bond
22 Mar 2031
Principal Payment
₹1,000.00 / Bond

Next 4 coupons + principal at maturity · per ₹1,000 face value

Bond Timeline
— Issue / Maturity | Coupon (projected) ┊ Today
Today Issued 2016-03-22 Matures 2031-03-22
Key Metrics
Coupon Rate
7.64%
YTM (Annual)
4.13%
Credit Rating
AAA
(CRISIL)
Remaining Tenure
4.6 Years
Advanced metrics
Modified Duration
3.80 Yrs
Macaulay Duration
3.95 Yrs
Issue Size
₹1,194 Cr
Minimum Investment
₹1,000
(1 Bond)
Market Characteristics
Modified Duration
3.80 Yrs
Price sensitivity per 1% yield move
Payment Frequency
Annual
Last Trade
2026-08-26
NSE CM
Trades (30 Days)
21
Exchange-reported sessions
Security Status
Secured
Callable
Observations
  • This bond is secured.
  • 21 secondary-market trades recorded in the last 30 days.
  • Coupon is 2.36 percentage points below the median for tracked NCD bonds. (based on 18935 tracked NCD bonds with a stated coupon)
Structured Overview Data as of 16 Jul 2026
Instrument Type
NCD
Issue Date
2016-03-22
Day Count Convention
30/360
Listed Exchange
Call / Put Option
Callable & Puttable

Indian Railway Finance Corporation Limited issued this secured, rated, ncd (7.64% (FOR CATEGORY IV i.e. RIIs- 7.64% p.a. IF ON RECORD DATE BONDS HELD BY RII ELSE 7.35% p.a.) SECURED REDEEMABLE NON CONVERTIBLE BONDS IN THE NATURE OF DEBENTURES. SERIES 108th A. LETTER OF ALLOTMENT. DATE OF MATURITY 22/03/2031) carrying a 7.64% p.a. coupon, paid annual. It repays principal on maturity. The issuer holds the right to redeem the bond before maturity date.

Recent Market Prices
Trade DateClean PriceYTM (%)Trades
2026-08-26 114.5000 4.1264 200
2026-08-25 114.1250 4.2120 4
2026-08-21 114.6500 4.1018 None
2026-08-20 114.0010 4.2483 100
2026-08-19 114.4060 4.1596 22
2026-08-18 114.7470 4.0856 None
2026-08-17 114.3030 4.1860 None
2026-08-14 114.4100 4.1673 2
2026-08-13 114.7620 4.0911 None
2026-08-12 114.6000 4.1287 None
Data Coverage
DatasetRecordsDetailFreshness
Credit Ratings 2 CARE, CRISIL 2026-06-28
Rating Actions History 0
Secondary-Market Trades 10 NSE CM 2026-08-26
Reg52(4) Payment Disclosures 0
Documents
Entity metadata
Source
nsdl_master_promoted
Last Updated
16 Jul 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 Corpo… 7.64% Mar 2031 NCD?

Indian Railway Finance Corpo… 7.64% Mar 2031 NCD carries a coupon of 7.64%, paid annual, on a face value of ₹1,000.

When does Indian Railway Finance Corpo… 7.64% Mar 2031 NCD mature?

Indian Railway Finance Corpo… 7.64% Mar 2031 NCD matures on 2031-03-22, 4.6 years from today.

What is Indian Railway Finance Corpo… 7.64% Mar 2031 NCD rated?

Indian Railway Finance Corpo… 7.64% Mar 2031 NCD is rated AAA by CRISIL and AAA by CARE. As of 2026-06-28.

Is Indian Railway Finance Corpo… 7.64% Mar 2031 NCD secured?

Indian Railway Finance Corpo… 7.64% Mar 2031 NCD is a secured bond.

Can Indian Railway Finance Corpo… 7.64% Mar 2031 NCD be called or put back early?

Indian Railway Finance Corpo… 7.64% Mar 2031 NCD has both a call option, letting the issuer redeem it early, and a put option, letting holders require early repurchase, on scheduled dates.

What yield does Indian Railway Finance Corpo… 7.64% Mar 2031 NCD currently offer?

The last recorded trade on 2026-08-26 priced Indian Railway Finance Corpo… 7.64% Mar 2031 NCD at ₹114.50, implying a yield to maturity of 4.13%.

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