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Indian Railway Finance 6.47% May 2028 NCD

AAA / Stable Unsecured NCD

Indian Railway Finance Corporation

Unsecured, Rated, Taxable, Redeemable NCD

Browse: AAA rated bonds · bonds maturing in 2028

Current YTM
7.37%
Market YTM
Coupon Rate
6.47%
Per annum
Maturity Date
30 May 2028
1.8 Yrs to Maturity
Interest Payment
Annual
Frequency
Face Value
₹100,000
Per Bond
Market Position
YTM (Annual)
7.37%
Live, last traded 2026-08-26
10Y G-Sec Benchmark
6.68%
Reference point, not this bond's tenor
Spread over G-Sec
+212 bps
vs 1.8Y G-Sec at 5.25%
Below the median spread for similar-tenor peers
Tenure
1.8 Years
Remaining to maturity
Price vs Yield
— Price (Clean) — Yield (YTM)
2026-07-14 2026-08-26
Cashflow Timeline
30 May 2027
Interest Payment
₹6,470.00 / Bond
30 May 2028
Principal Payment
₹100,000.00 / Bond

Next 1 coupon + principal at maturity · per ₹100,000 face value

Bond Timeline
— Issue / Maturity | Coupon (projected) ┊ Today
Today Issued 2025-05-30 Matures 2028-05-30
Key Metrics
Coupon Rate
6.47%
YTM (Annual)
7.37%
Credit Rating
AAA
(CRISIL)
Remaining Tenure
1.8 Years
Advanced metrics
Modified Duration
1.58 Yrs
Macaulay Duration
1.69 Yrs
Issue Size
₹3,000 Cr
Minimum Investment
₹100,000
(1 Bond)
Market Characteristics
Modified Duration
1.58 Yrs
Price sensitivity per 1% yield move
Payment Frequency
Annual
Last Trade
2026-08-26
NSE OTC (WAP)
Trades (30 Days)
3
Exchange-reported sessions
Security Status
Unsecured
No call option
Observations
  • This bond is unsecured.
  • 3 secondary-market trades recorded in the last 30 days.
  • Coupon is 3.53 percentage points below the median for tracked NCD bonds. (based on 18935 tracked NCD bonds with a stated coupon)
Structured Overview Data as of 8 Aug 2026
Instrument Type
NCD
Issue Date
2025-05-30
Day Count Convention
30/360
Listed Exchange
BSE
Call / Put Option
None disclosed

IRFC-6.47%-30-05-28-PVT is a rated, redeemable ncd issued by Indian Railway Finance Corporation. The bond offers a fixed coupon of 6.47% p.a. with annual interest payments and repays principal on maturity.

Recent Market Prices
Trade DateClean PriceYTM (%)Trades
2026-08-26 98.5164 7.3700 None
2026-08-25 98.5164 7.3700 None
2026-08-14 98.9480 7.0900 None
2026-07-14 98.5873 7.2800 None
Data Coverage
DatasetRecordsDetailFreshness
Credit Ratings 1 CRISIL 2025-06-30
Rating Actions History 0
Secondary-Market Trades 4 NSE OTC (WAP) 2026-08-26
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 6.47% May 2028 NCD?

Indian Railway Finance 6.47% May 2028 NCD carries a coupon of 6.47%, paid annual, on a face value of ₹100,000.

When does Indian Railway Finance 6.47% May 2028 NCD mature?

Indian Railway Finance 6.47% May 2028 NCD matures on 2028-05-30, 1.8 years from today.

What is Indian Railway Finance 6.47% May 2028 NCD rated?

Indian Railway Finance 6.47% May 2028 NCD is rated AAA by CRISIL. As of 2025-06-30.

Is Indian Railway Finance 6.47% May 2028 NCD secured?

Indian Railway Finance 6.47% May 2028 NCD is unsecured; holders rank alongside other unsecured creditors in the event of default.

Where does Indian Railway Finance 6.47% May 2028 NCD trade?

Indian Railway Finance 6.47% May 2028 NCD is listed on BSE.

What yield does Indian Railway Finance 6.47% May 2028 NCD currently offer?

The last recorded trade on 2026-08-26 priced Indian Railway Finance 6.47% May 2028 NCD at ₹98.52, implying a yield to maturity of 7.37%.

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