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28
November 2018
 |
India Inc's foreign borrowings(The Total Investment & Insurance
Solutions)
India Inc's foreign borrowings dipped nearly
66 per cent to USD 1.41 billion in October this year, Reserve Bank data showed
Wednesday.
The domestic firms had borrowed USD 4.09
billion from overseas markets through external commercial borrowings (ECBs) as
well as Foreign Currency Convertible Bonds (FCCBs) in October 2017. The Total Investment & Insurance
Solutions
Besides, there was additional borrowings of
USD 314.99 million through rupeedenominated bonds (RDBs) in the year-ago month.
However, the borrowings through RDBs remained
unchanged in October this year.
Of the
total borrowing amount in October, the Indian companies brought in USD 1.40
billion through automatic route and the rest of USD 8.54 million was by way of
approval route.
Among the major borrowers, HPCL-Mittal Energy
Ltd raised USD 350 million for rupee expenditure; Oppo Mobiles India Pvt Ltd
USD 250 million for import of capital goods; Ostro Kutch Wind USD 88.27 million
for new project; ICICI Home Finance Company USD 75 million for on-lending Bharti
Airtel NSE -4.28 % raised USD 100 million each for tenors of 5 years and 6
years for refinancing of earlier ECB and rupee expenditure respectively.
Taiyo
Nippon Sanso India Pvt Ltd (USD 8.54 million) was the only company to have
raised money from approval route. The
Total Investment & Insurance Solutions
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