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Last Updated : Mar 01, 2017 05:39 PM IST | Source: PTI

Indian firms raise $1.82 bn from overseas markets in January

Indian companies raised USD 1.82 billion from overseas markets through external commercial borrowings and rupee-denominated bonds in January this year.

 
 
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Indian companies raised USD 1.82 billion from overseas markets through external commercial borrowings and rupee-denominated bonds in January this year.


Domestic companies had raised USD 1.40 billion in foreign debt in January last year but the data is not comparable as this year's numbers include funds raised via rupee-denominated bonds (RBD).


The Reserve Bank started publishing the RBD data from September 2016 after it allowed the corporates to raise foreign funds via this route.

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Of the total borrowings in January, USD 1.80 billion came through external commercial borrowings (ECB) and the rest USD 11.75 million via rupee-denominated bonds, the Reserve Bank data released today showed.


In the ECB category, Indian companies raised USD 1.38 billion by automatic route and the remaining USD 426.96 million through approval channel.


Rural Electrification Corporation, which raised USD 400 million for on-lending, was the major borrower in the approval category.


Companies which raised foreign funds by automatic route include power producer NTPC (USD 531.18 million), Adani Ports and Special Economic Zone (USD 500 million).


ATC Telecom Infrastructure borrowed USD 47.74 million for refinancing of rupee loans.


Nippon Steel & Sumikin Engineering India and Beumer India were the two companies that issued RBDs worth USD 7.34 million and USD 4.41 million respectively.

Nippon Steel & Sumikin Engineering India would use the capital to commence a new project, while Beumer India has raised funds to meet its general corporate purposes.



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First Published on Mar 1, 2017 05:16 pm
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