Indian Railway Finance Corporation (IRFC) conducted a two-day External Commercial Borrowing (ECB) roadshow in Taipei, Taiwan on March 10, 2026, and Hong Kong on March 11, 2026, as part of its efforts to diversify funding sources and strengthen engagement with Asia-Pacific investors.

The delegation was led by Manish Chandra, along with Shwet Ketu Mishra and Nav Goel. The visit focused on expanding IRFC’s access to global capital pools to support India’s infrastructure growth and the company’s evolving financing role under its “IRFC 2.0” strategy.

During the roadshow, the IRFC team held one-on-one meetings with potential investors across the Asia-Pacific region, particularly those based in Taipei and Hong Kong. The initiative forms part of the company’s broader strategy to expand its lender base, raise long-term funds at competitive rates, and diversify its currency exposure.

The delegation highlighted IRFC’s expanding role in financing India’s railway ecosystem, aligned with a whole-of-government approach. Investors were informed about the company’s strong sovereign linkages, nil non-performing asset (NPA) status, low operating costs, and consistent financial performance, positioning IRFC as a key financing partner for India’s railway infrastructure expansion.

Investors also showed strong interest in IRFC’s recent diversification into funding high-quality public sector and infrastructure projects beyond the Ministry of Railways, including areas such as dedicated freight corridors, metro rail systems, and ports. They expressed confidence in IRFC’s strategy to broaden its customer base while maintaining strong institutional linkages with the Ministry of Railways.

The roadshows were supported by mandated lead arrangers Sumitomo Mitsui Banking Corporation (SMBC) and Mitsubishi UFJ Trust and Banking Corporation (MUFG), which facilitated structured investor meetings across both financial hubs.

Potential lenders actively participated in discussions and expressed interest in supporting IRFC’s future ECB borrowings. The successful completion of the Taiwan and Hong Kong roadshows is expected to strengthen IRFC’s presence in these markets and help secure cost-effective and diversified funding sources to support its long-term financing needs.