Indian cos raise $3.28 bn debt from overseas market in Sept

Power Grid, EXIM Bank, and NTPC figure among the companies which together raised USD 3.28 billion debt from overseas markets in September, according to Reserve Bank data.
Besides, mortage lender HDFC raised USD 201 million or about Rs 1,300 crore in the form of Rupee Denominated Bonds (RDB), popularly known as masala bonds.
State-owned Power Grid Corporation of India and EXIM Bank have raised USD 500 million each, said the RBI data today on External Commercial Borrowings (ECB)/Foreign Currency Convertible Bonds (FCCB).
Power producer NTPC raised USD 353.89 million overseas debt while oil-major IOC raised USD 300 million.
India's largest steel maker SAIL too raised USD 350 million.

The other companies which raised funds through the ECB route include, Larsen & Toubro, Dassault Reliance Aerospace, Cadila Healthcare, Apollo Tyres, and Birla Corporation.
The total fund raised through ECB and FCCB by Indian companies was USD 1.56 billion in August this year.