 "India Inc raised $3.7 bn through ECBs in July")
Indian companies raised $3.70 billion through external commercial borrowings (ECBs) in July 2013 to fund modernisation, overseas acquisition and import capital goods, according to Reserve Bank of India (RBI) data.
In June, India Inc had raised $1.95 billion, RBI data showed. Out of the total amount raised, $1.38 billion was via the automatic route.
Nearly $2.3 billion was raised through the approval route, which requires case-by-case approval by RBI.
The Indian Oil Corporation contracted external borrowings worth $ 500 million for rupee expenditure incurred in import of capital goods. The loan tenure is 121 months (10 years and one month). The other big companies that raised money include Dr. Reddy’s Laboratories and the National Thermal Power Corporation (NTPC).
Under the approval route, Reliance Industries raised $2.15 billion in two transactions for importing capital goods. While the tenure of one loan is 12 years and seven months, another loan is of five years and one month.
Those that raised money through the approval route include Jet Airways and Delhi International Airport Limited (DIAL).
There was no foreign currency convertible bond (FCCB) issuance in July.
In June, India Inc had raised $1.95 billion, RBI data showed. Out of the total amount raised, $1.38 billion was via the automatic route.
Nearly $2.3 billion was raised through the approval route, which requires case-by-case approval by RBI.
The Indian Oil Corporation contracted external borrowings worth $ 500 million for rupee expenditure incurred in import of capital goods. The loan tenure is 121 months (10 years and one month). The other big companies that raised money include Dr. Reddy’s Laboratories and the National Thermal Power Corporation (NTPC).
Under the approval route, Reliance Industries raised $2.15 billion in two transactions for importing capital goods. While the tenure of one loan is 12 years and seven months, another loan is of five years and one month.
Those that raised money through the approval route include Jet Airways and Delhi International Airport Limited (DIAL).
There was no foreign currency convertible bond (FCCB) issuance in July.