In early March 2026 a senior delegation from Indian Railway Finance Corporation (IRFC) led by senior general managers (finance) Ajay Swami and Rakhi Dua concluded a two-day external commercial borrowing (ECB) roadshow in Singapore on second and third March 2026. The visit formed part of IRFC's ongoing engagement to mobilise long-term funding for infrastructure linked to the railways.

The roadshow aimed to enhance access to diversified pools of global capital required for funding the country's infrastructure growth and to broaden the lender base under IRFC version two. The delegation held one-on-one meetings with Japanese and Taiwanese regional investors based in Singapore and outlined the corporation's strategy to mobilise long-term funds at competitive rates and favourable terms. The programme also sought to strategically diversify IRFC's currency profile and investor mix.

During meetings the delegation emphasised a whole-of-government approach to funding the entire railway ecosystem and set out IRFC's strengths, including strong sovereign linkages, nil non-performing asset status, low operating cost and a consistent track record. Investors registered keen interest in the corporation's diversification into high-quality public sector undertaking and infrastructure exposures beyond the Ministry of Railways (MoR). They welcomed plans to expand the customer base through funding for dedicated freight corridors, metro rails and ports while maintaining strong MoR linkages.

The roadshow was supported by mandated lead arrangers Sumitomo Mitsui Banking Corporation and Mitsubishi UFJ Financial Group, who facilitated structured investor engagements across the Singapore market. Potential lenders indicated readiness to support future ECB borrowings and conveyed confidence in IRFC's credit profile and business strategy. The delegation concluded that the successful engagements would strengthen IRFC's presence in Singapore and the regional investor base and help secure cost-effective, diversified funding lines to meet future financing requirements for growth.