$23.6 bn raised in Aug from overseas markets by Indian cos

Mumbai: Indian companies raised USD 23.6 billion from overseas markets in August, according to Reserve Bank data.

As many as 75 firms, including Power Finance Corporation Ltd, UltraTech Cement Ltd, Export-Import Bank of India, Ford India Ltd, Renault India Pvt Ltd and L & T Mhi Turbine Generators, raised money from abroad during August.

While 65 firms raised USD 12.1 billion from overseas under the automatic route through external commercial borrowings (ECBs) and foreign currency convertible bonds (FCCBs), 10 firms raised USD 11.5 billion via approval route.

Power Finance Corporation raised USD 2.5 billion.

Export-Import Bank of India raised USD 5 billion under approval route for onward or sub-lending.

PTI