India Inc invested $5.58 billion in overseas markets in April

FDI by companies was $15.24 billion in April, 2013: RBI

Overseas direct investment by Indian companies stood at $5.58 billion in April 2014, much lower than in the year-ago period.

The FDI by companies was $15.24 billion in April, 2013, the data of the Reserve Bank of India showed today.

The overseas FDI during the month under consideration consisted of $1.15 billion on equity, $268.16 million on loan and $4.16 billion were through issuance of guarantees.

Telecom major Bharti Airtel, Elder Pharmaceuticals, Haldia Coke and Serum Institute were among the major companies that made investment in foreign markets in the month.

Bharti Airtel issued guarantee of $2.11 billion and $55 million in its joint venture and a wholly-owned unit in the Netherlands and Singapore respectively.

Elder Pharmaceuticals had commitment of $1.3 billion in the form of loans in its wholly owned subsidiary in the United Arab Emirates.

Among others, Haldia Coke and Chemicals had overseas investment of $2.14 billion by way of raising loans in its wholly owned unit in the US.

While Serum Institute of India raised guarantee of $71.96 million in the company's wholly owned subsidiary in the Netherlands.

Alok Industries had total commitment of $247.61 million in three different tranches in a mix of loans and guarantee.