Indian Rail to Start 100 Billion-Rupee Bond Sale by September
This article is for subscribers only.
India’s Ministry of Railways will start a 100 billion-rupee ($2.2 billion) domestic sale of tax-free bonds by September to help upgrade and expand Asia’s oldest train network.
The offering will be divided between a private placement and a later tranche for retail investors, Rajendra Kashyap, managing director of finance arm Indian Railway Finance Corp., said in a June 17 interview in New Delhi. Plans for the money include spending as much as 53 billion rupees on laying additional rail lines, 21 billion rupees for widening tracks and