Indian cos invest $1.24 bn overseas in Jul

Overseas direct investment by Indian companies fell to USD 1.24 billion in July from USD 3.53 billion in June, the Reserve Bank said today.

The investment in equity rose to USD 436.14 million last month from USD 341.71 million in June, showed the RBI data. The total loan amount increased to USD 341.12 million from USD 177.17 million in June.

Amount reported in equity and loan represents the actual outflow. A total of 459 deals took place during the month by the Indian companies to carry out the outward foreign direct investment, according to the RBI data.

JSW Steel, Bharti Airtel, Tata Steel, Global Green Company, Religare Capital Markets, Reliance Industries, Spice Invest and Finance Advisors, were among the major overseas investors during the month.

JSW Steel invested USD 163.39 million through its wholly-owned subsidiaries and joint-venture in Mauritius, the Netherlands and the US for its businesses in manufacturing, wholesale retail trade and hotel.

Bharti Airtel invested USD 150.01 million through its wholly owned unit in Mauritius which is into the business of communication, storage and transportation.

Tata Steel invested USD 96.79 million via its wholly owned subsidiary in Singapore which is into the business of financial services, insurance and real estate.

Global Green Company invested USD 70.73 million through its joint venture in Belgium which is into wholesale, retail trade, restaurants and hotels.

Religare Captial Markets invested USD 64.11 million in its wholly owned business in Mauritius which is into financial, insurance, real estate and business services.

Reliance Industries invested USD 45.15 million in its wholly owned subsidiaries in the United Arab Emirates and Australia which is into the business of financial services, insurance, real estate and business services.

Spice Invest and Finance Advisors invested USD 37.55 million through its wholly owned subsidiary in Singapore in its business of financial, insurance, real estate services.