Home >News >India >India Inc foreign borrowings jump over two-fold to $3.41 billion in October
No money was raised through the rupee-denominated bonds or the masala bonds during the month. (Photo: AP )
No money was raised through the rupee-denominated bonds or the masala bonds during the month. (Photo: AP )

India Inc foreign borrowings jump over two-fold to $3.41 billion in October

  • Of the total money borrowed by domestic companies, $2.87 billion was through the automatic route of ECB
  • Two companies tapped the approval route with JSW Steel raising $00 million

New Delhi: India Inc's foreign borrowings grew over two-fold to $3.41 billion in October over the corresponding month a year ago, according to data from the Reserve Bank of India.

Indian companies had raised $1.41 billion in borrowings from overseas markets in October 2018.

Of the total money borrowed by the domestic companies, $2.87 billion was through the automatic route of external commercial borrowing (ECB), $538 million came in through the approval route of ECB, showed the data.

In the ECB category, the major borrowers tapping the automatic route included Muthoot Finance ($400 million), HPCL-Mittal Energy ($300 million), Wardha Solar (Maharashtra) ($ 251 million), Larsen and Toubro ($200 million), Deccan Fine Chemicals ($140 million) and Aditya Birla Finance ($75 million).

Two companies tapped the approval route with JSW Steel raising $00 million, while Shriram Transport Finance borrowed $138 million in October this year.

No money was raised through the rupee-denominated bonds or the masala bonds during the month, nor in the year-ago period.

This story has been published from a wire agency feed without modifications to the text.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Click here to read the Mint ePaperMint is now on Telegram. Join Mint channel in your Telegram and stay updated with the latest business news.

Close
x
×
My Reads Redeem a Gift Card Logout