India Inc's fundraising from overseas sinks to 76-qtr low in Q2: Data

Fresh loans plummet 93% to $210 mn in Q3, CY22

Foreign currency loans raised by Indian companies nosedived to $210 million in the September quarter (Q2), 93.3 per cent less than the year-ago period when five firms raised $3.1 billion. The Q2 amount is the lowest since December 2003 quarter when India Inc raised $191 million.

Companies cited volatility in the currency markets, sharp rise in interest rates in the United States, and fund availability in India as the main reasons behind the sharp fall. 

According to data sourced from Bloomberg, only two companies raised funds in the September quarter, which was marked by the Indian currency losing its value