Overseas direct investments by Indian companies rose to $5.58 billion in April from $5.23 billion in the previous month. However, the investment was much lower from $15.24 billion during the same month of previous year. The investments made by domestic corporate include equity, debt and bank guarantees.
Total foreign direct investments from India in April included $1.15 billion in equity, $268.16 million in loans and $4.16 billion were through issuance of guarantees. Telecom major Bharti Airtel, Elder Pharmaceuticals, Haldia Coke and Serum Institute were among the major companies that made high investment in foreign markets in the month.
Elder Pharmaceuticals had raised $1.3 billion in the form of loans in its wholly owned subsidiary in the United Arab Emirates. Bharti Airtel issued guarantees of $2.11 billion and $55 million in its joint venture and a wholly-owned unit in the Netherlands and Singapore respectively. Among others, Haldia Coke and Chemicals had overseas investment of $2.14 billion by way of raising loans in its wholly owned unit in the US. While Serum Institute of India raised guarantees of $71.96 million in the company's wholly owned subsidiary in the Netherlands. Furthermore, Alok Industries had garnered $247.61 million in three different tranches in a mix of loans and guarantees.