Tag: indian railways

Bandhan Bank acquires branding rights of Kolkata metro station

Banking & Finance

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Bandhan Bank has entered into an arrangement with Kolkata Metro for the branding rights of the Salt Lake Sector V metro station. With this, the station will now be called “Bandhan Bank Salt Lake Sector V Metro Station”.

The bank’s registered office and head office are in Sector V, which is also a major IT hub in Kolkata.

“Notably, this is the first of its kind arrangement for the Indian Railways where a private entity has been given the branding rights to an entire station. While such arrangements are seen across various metro stations in other larger cities, this is the first for Indian Railways and also for the city of Kolkata, whose metro service is the oldest in the country,” the bank said in a press statement.

Bandhan Bank had earlier tied up with Kolkata Metro for their smart card branding a few months ago. It is believed to have been a maiden deal in the history of Kolkata Metro as the rapid transit system joined hands with a private entity to leverage its vast user base via an exclusive medium.

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IRFC IPO to raise Rs 4,600 cr; issue opens on Jan 18, BFSI News, ET BFSI

Personal Finance

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The initial public offering (IPO) of Indian Railway Finance Corporation (IRFC) worth about Rs 4,600 crore will hit the market on January 18, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said on Wednesday. “IRFC coming up for listing with a Rs 4600 cr+ issue in a price band of Rs 25-26 per share. Anchor book on Jan 15 and the main book from Jan 18-20,” he tweeted.

This will be the first IPO by a railway non-banking financial company (NBFC).

In January 2020, IRFC had filed draft papers for its IPO.

The issue is of up to 178.20 crore shares, comprising a fresh issue of up to 118.80 crore shares and offer for sale of up to 59.40 crore shares by the government, according to the draft prospectus.

The company’s principal business is to borrow funds from the financial markets to finance acquisition/ creation of assets which are then leased out to the Indian Railways.

IRFC, set up in 1986, is a dedicated financing arm of the Indian Railways for mobilising funds from domestic as well as overseas markets. Its primary objective of IRFC is to meet the predominant portion of ‘extra budgetary resources’ requirement of the Indian Railways through market borrowings at the most competitive rates and terms.

The Union Cabinet had in April 2017 approved listing of five railway companies. Four of them — IRCON International Ltd, RITES Ltd, Rail Vikas Nigam Ltd and Indian Railway Catering and Tourism Corp — have already been listed.



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