Indian companies’ foreign borrowing down by 77%: RBI

Indian companies raised over USD 727.33 million from overseas markets in April 2015, down 77.3 per cent from a year ago, according to RBI data.

The domestic firms had raised USD 3.2 billion from overseas in the same month a year ago.

Of the total borrowings during the month, USD 58.25 million was raised through approval route, while USD 669.09 million came through automatic route, the RBI data showed.

Among the major companies that raised money overseas in April were: HDFC Ltd USD 300 million, THDC India USD 90.6 million, JSW Steel USD 86.32 million, Huawei Telecommunications (India) USD 50 million and Shree Cement USD 40 million.

In approval route, Metso India Pvt Ltd raised USD 38.25 million for general corporate purpose and Sunstream City raised USD 20 million for urban infrastructure development.