India Inc has raised $2.61 billion from overseas markets in September 2015 down by 32 percent compared to that of $3.18 billion raised in corresponding year ago period, according to RBI data. However, the amount borrowed by Indian firms from overseas markets in August 2015 was much lower at $750.77 million.
Out of the total 56 borrowers, two raised $1.48 billion through approval route, while the rest via automatic route. Global Vectra Helicorp raised $8.7 million for Import of Capital Goods, while Reliance Industries raised $1.47 billion for refinancing of earlier ECBs through approval route.
Among major borrowers through automatic route, Hindustan Petroleum Corporation and Rural Electrification Corporation raised $250million for modernization and refinancing of earlier ECBs respectively. Further, MCC PTA India Corp raised $170 million for general corporate purpose, Idea celluar raised $71.06 million for refinancing of earlier ECBs.