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Overseas direct investment by Indian companies stood at $1.82 billion, 76 per cent down in May from the previous month. This includes the equity, debt as well as guarantees issued for overseas ventures.
Piramal Enterprises issued a guarantee worth $258 million to its joint venture in USA. Cox & Kings India Limited also issued a guarantee worth $246 million to wholly owned subsidiary in UK.
Other companies who emerged as major players in investing overseas were Ushdev International Limited, Mahindra & Mahindra Limited and JSW Steels Limited.
Overall Indian companies issued guarantees worth $1.21 billion, extended loans worth $291 million and pumped in equities worth $319 million.
In April, overseas direct investment by Indian companies stood at $7.63 billion.
