India Inc Foreign Borrowings Grow By 20% In March To US$ 5.07 Billion

Subscribe to GoodReturns
For Quick Alerts
For Daily Alerts

    India Inc raised a whopping $5.07 billion through external commercial borrowings or ECBs and rupee-denominated bonds (RDBs) in March 2018. This is higher by 20% in comparison to the funds raised via the same route in the corresponding month last year. In March 2017, Indian companies raised as much as US$ 4.24 billion from foreign borrowings.

    India Inc Foreign Borrowings Grow By 20% In March To US$ 5.07 Billion

    Under the approval route, Shriram Transport Finance Co Ltd managed to raise US$ 49.98 million for on-lending via RDBs and HDFC Bank raised US$ 500 million for on-lending. In 3 tranches, Rural Electrification raised US$ 700 million via ECBs and PFC raised US$ 250 million.

    Under the automatic route of ECB, some of the major borrowers include PFC raised US$ 450 million for refinancing the previous ECB; Hindustan Petroleum Corporation USD 300 million for refinancing earlier ECB and NTPC Ltd that raised US$ 400 million for power projects.

    Keihin India Manufacturing Pvt. Limited raised US$ 204.55 million for importing capital goods while Indiabulls Housing Finance raised US$ 200 million for refinancing earlier ECB.

    With PTI Inputs.

    Read more about: india inc ecb
    Story first published: Saturday, May 5, 2018, 15:52 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more