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

India Inc’s foreign borrowings 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