Business Standard

Cos raised $1.35 bn from overseas markets in Nov

Of this, $1.1 billion was raised through automatic route while $240.55 million was raised through approval route

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Press Trust of India New Delhi

Indian companies raised $1.35 billion from overseas markets in November, down 68% from $4.29 billion raised in the previous month, according to Reserve Bank data.

The amount was raised through external commercial borrowings (ECBs) and foreign currency convertible bonds (FCCBs), the data showed.

Of this, $1.1 billion was raised through automatic route while $240.55 million was raised through approval route.

As many as 65 Indian firms including GTL Infrastructure Ltd, Adani International Container Terminal, Sintex Industries Ltd, Sistema Shyam Teleservices Ltd, Essar Steel India Ltd, Jamshedpur Continuous Annealing & Processing raised money from overseas market.

GTL Infrastructure raised USD 320.54 million in two separate tranches for refinancing of old loans.

Adani International Container Terminal raised USD 75 million for its port projects and Sintex Industries garnered $175 million for redemption of Foreign Currency Convertible Bonds (FCCBs).

Telecom firm Sistema Shyam Teleservices raised $42.5 million in two separate tranches for import of capital goods, and Essar Steel India raised $60 million for rupee expenditure, the data said.

Jamshedpur Continuous Annealing and Processing raised $135 million for new project expenditure.

 

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First Published: Dec 26 2012 | 3:27 PM IST

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