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India Inc's foreign borrowings rise two-fold to $4.98 bn in July: RBI

Adani Ports and Special Economic Zone raised $750 mn for rupee expenditure, $650 mn for refinancing of earlier ECB, ONGC Videsh and $500 mn for other purposes

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India Inc’s grew over twofold to $4.98 billion in July over the same month a year ago, according to Reserve Bank data

Automatic route

  • Adani Ports and Special Economic Zone raised $750 mn for rupee expenditure, $650 mn for refinancing of earlier ECB, ONGC Videsh and $500 mn for other purposes
  • L&T and HPCL-Mittal Energy raised $150 mn and $125 mn, respectively, for rupee expenditure
  • Aditya Birla Housing Finance, L&T Finance, GACL-NALCO Alkalies & Chemicals, and India Infoline Finance raised $100 mn each for on-lending purposes

Approval route
  • Reliance Industries raised $912.87 mn in three different tranches to meet rupee expenditure and import of capital goods while REC raised $650 mn for on-lending
  • Masala or rupee-denominated bonds
  • Toyota Financial Services India raised $50.86 mn in the overseas market for the purpose of sub-lending

India Inc's foreign borrowings rise two-fold to $4.98 bn in July: RBI

First Published: Mon, September 02 2019. 21:46 IST
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