Indian Companies' Foreign Borrowing Down By 77Percent: RBI
By PTI
MUMBAI: Indian companies rose over $727.33 million from overseas markets in April 2015, down 77.3 per cent from a year ago, according to RBI data.
The domestic firms had raised $ 3.2 billion from overseas in the same month a year ago.
Of the total borrowings during the month, $ 58.25 million was raised through approval route, while $669.09 million came through automatic route, the RBI data showed.
Among the major companies that raised money overseas in April were: HDFC Ltd $ 300 million, THDC India $ 90.6 million, JSW Steel $ 86.32 million, Huawei Telecommunications (India) $ 50 million and Shree Cement $ 40 million.
In approval route, Metso India Pvt Ltd raised $ 38.25 million for general corporate purpose and Sunstream City raised $ 20 million for urban infrastructure development.
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