Indian Railway Finance Corporation (IRFC) conducted a two-day External Commercial Borrowing (ECB) roadshow in Singapore on March 2–3, 2026, to strengthen access to diversified global capital pools for funding infrastructure growth.

The senior delegation, led by Senior General Managers (Finance) Ajay Swami and Rakhi Dua, held one-on-one meetings with potential Japanese and Taiwanese regional investors based in Singapore. The initiative forms part of IRFC’s strategy to broaden its lender base and mobilise long-term funds at competitive rates while diversifying its currency profile.

During the interactions, the delegation highlighted IRFC’s evolving role under its “IRFC 2.0” strategy, which expands beyond traditional railway financing to include infrastructure projects with forward and backward linkages to the railway sector. These include investments in areas such as dedicated freight corridors, metro rail systems and ports.

IRFC also emphasised its strong sovereign linkages, zero non-performing assets (NPA) status, low operating costs and consistent financial performance, positioning the corporation as a reliable partner for financing India’s expanding railway infrastructure.

The roadshow was organised with the support of mandated lead arrangers Sumitomo Mitsui Banking Corporation and Mitsubishi UFJ Financial Group, which facilitated structured engagements with investors across the Singapore market.

Potential lenders expressed strong interest in IRFC’s diversification strategy and expansion into high-quality PSU and infrastructure exposures beyond the Ministry of Railways. Investors also conveyed confidence in IRFC’s credit profile and indicated their willingness to support the company’s future ECB borrowings.

The successful completion of the Singapore roadshow is expected to strengthen IRFC’s presence among regional investors and help secure cost-effective, diversified funding lines to support its future growth plans.