Indian companies raised $ 4.56 billion from the overseas market in December, twice as much as they did in the previous month, through external commercial borrowings and foreign currency convertible bonds.
In November they had raised $ 2.19 billion from abroad, according to the Reserve Bank data released on Friday.
As many as 68 firms raised money from external sources in December. Of these, 54 companies raised $ 560.73 million through the automatic route for which no approval is required from the RBI or the government.
The remaining 14 firms raised $ 4.01 billion through the approval route, requiring permission from the RBI.
Under the approval route, ONGC Videsh Ltd raised $ 1.5 billion for overseas acquisition and OIL India Ltd raised $ 1 billion and $ 300 million for overseas acquisition in two separate deals.
Besides, Indian Oil Corporation raised $ 500 million for import of non-capital goods and Essar Oil raised $ 150 million for refinancing of rupee loans.
Reliance Industries and Air India raised $ 100 million and $ 95 million respectively, for import of capital goods.
Under the automatic route, North Eastern Electric Power Corporation Ltd raised $ 100 million for new project financing. NTPC and NSL Wind Power Company (Kayathar) also raised $ 75.35 million and $ 48 million respectively, for power projects.
