India Inc's foreign investment fell 84% in Aug at $399 mn

Palava Dwellers was among top investors, parking 21.75 mn in its wholly-owned arms abroad

Indian firms' overseas direct investment fell 84 per cent year-on-year, to $399.06 million in August, data from RBI showed.

Indian companies had made an investment of $2.47 billion in the markets abroad during the same period last year.

Compared to July this year, direct investments in August were down by 82.6 per cent.

The investments were in the form of issuance of guarantees ($97.14 million), loans (146.36 million) and equity ($155.56 million).

Palava Dwellers Pvt Ltd was among the biggest investors, which invested 21.75 million in its wholly-owned subsidiaries in Jersey, Mauritius and The Netherlands.

WNS Global Services invested $15.35 million in a joint venture in the UK, General Insurance Corporation infused $11.9 million in a wholly-owned business in South Africa and Bharat Petroresources spent $15.15 million in a 100 per cent subsidiary in the Netherlands.

Crompton Greaves invested $19.39 million in its joint venture in the Netherlands.