INDIAN RAILWAY FINANCE CORPORATION LIMITED

Category I (QIB Portion)20% of the Overall IssueSizeCategory II (CorporatePortion)20% of the Overall IssueSizeCategory III (High NetWorth Individual Portion)20% of the Overall IssueSizeCategory IV (RetailIndividual InvestorPortion)40% of the Overall IssueSizeBasis of Allotment(a) Allotments in the first instance:i. Applicants belonging to the Category I, in the first instance, will be allocated Bonds upto 20% of theOverall Issue Size on first come first serve basis (determined on the basis of date of upload of theApplications on the electronic Application platform of the relevant stock exchanges);ii.Applicants belonging to the Category II, in the first instance, will be allocated Bonds upto 20% of OverallIssue Size on first come first serve basis (determined on the basis of date of upload of the Applications onthe electronic Application platform of the relevant stock exchanges);iii. Applicants belonging to the Category III, in the first instance, will be allocated Bonds upto 20% of OverallIssue Size on first come first serve basis (determined on the basis of date of upload of the Applications onthe electronic Application platform of the relevant stock exchanges);iv. Applicants belonging to the Category IV, in the first instance, will be allocated Bonds upto 40% of OverallIssue Size on first come first serve basis (determined on the basis of date of upload of the Applications onthe electronic Application platform of the relevant stock exchanges).(b) Under subscriptionIf there is any under subscription in any Portion, priority in Allotments will be given in the following order:i. Category IV Portion;ii. Category III Portion;iii. Category II Portion; andiv. Category I Portion.(c) For all Portions, all Applications uploaded on the same day on the electronic Application platform of therelevant stock exchanges would be treated at par with each other.(d) Minimum allotments of one Bond would be made in case of each valid Application.(e) Allotments in case of oversubscription:In case of an oversubscription in any of the Portions, Allotments to the maximum extent, as possible, willbe made on a first-come first-serve basis and thereafter on proportionate basis, i.e. full Allotment of Bondsto the Applicants on a first come first basis up to the date falling 1 (one) day prior to the date ofoversubscription and proportionate allotment of Bonds to the Applicants on the date of oversubscription(based on the date of upload of each Application on the electronic Application platform of the relevantstock exchanges, in each Portion). The method of proportionate allotment is as described below:i. Allotments to the applicants shall be made in proportion to their respective Application size, rounded off tothe nearest integer,ii.If the process of rounding off to the nearest integer results in the actual allocation of Bonds being higherthan the Issue size, not all applicants will be allotted the number of Bonds arrived at after such rounding off.Rather, each Applicant whose Allotment size, prior to rounding off, had the highest decimal point would begiven preference;82