India Inc foreign borrowings jump over two-fold to $3.41 billion in October1 min read . Updated: 08 Dec 2019, 02:29 PM IST
- 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.