IRFC raises ₹3,000 crore via 5-year bonds at record 6.65% cut-off

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IRFC raises ₹3,000 crore via 5-year bonds at record 6.65% cut-off - Business Standard

Quick Summary:

Strong demand, easing inflation, and RBI's expected rate cuts help IRFC raise ₹3,000 crore through five-year bonds at the lowest ever cut-off yield of 6.

Quasi-sovereign status and IRFC’s close ties to Indian Railways further bolstered investor confidence,” said Venkatakrishnan Srinivasan, founder and managing partner of Rockfort Fincap LLP.

The 10-year G-sec yield has declined by 32 basis points, while the five-year G-sec yield has dropped by 50 basis points during this period.