India Inc raised $ 3.55 billion from overseas market in March

Tags: News
Indian companies including IOC, Air India and IDFC raised a total $ 3.55 billion in March from overseas markets, data from RBI showed today.

Domestic firms had raised a higher $ 4.3 billion through external commercial borrowings (ECBs) and foreign currency convertible bonds (FCCBs) in the previous month.

As per the data from RBI, the borrowings by domestic companies through ECB and FCCBs were a combination of automatic and approval route.

The companies raised as much as $ 1.36 billion through approval route during the month, while $ 2.17 billion were raised by the way of automatic route.

Through the approval route, Indian Oil Corporation raised $ 810 million for overseas acquisition and Intel Technology India raised $ 150 million for import of capital goods.

Public carrier, Air India Ltd raised $ 99 million each in two separate tranches for import of capital goods through the approval route, while Dewan Housing Finance Corporation Ltd raised $ 70 million for on-lending/sub-lending.

In the automatic route category, Export-Import Bank (Exim Bank) and Hindustan Petroleum Corporation raised $ 500 million each for sub-lending and working capital purpose respectively. IDFC Ltd raised $ 300 million for sub-lending.

Among others raising money through automatic route, Sterling Biotech raised $ 206.46 million for refinancing of earlier ECB and Bharat Petroleum Corp raised $ 198.58 million for working capital needs.

India's ECB in the entire fiscal 2013-14 stood at $ 33.25 billion.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Amidst Sino-Indian bonhomie, the Tibet issue cannot be wished away

    Tibet did not figure in the three-day high-level meetings between India and the People’s Republic of China (PRC).

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Varun Dutt

<b>Riskfactor</b>: Intertemporal choices

Intertemporal choice is the study of the relative value people ...

Parvez Imam

Why we all have blood on our hands

What does the Jammu and Kashmir flood make us think? ...

Dharmendra Khandal

The peculiar possibilities of animal poop

You can tell a lot about an animal by its ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture