India Inc has raised $ 1.07 billion from overseas markets in June 2016, down 66% as compared to $3.16 billion in June 2015. As per the Reserve Bank of India (RBI) data, the total borrowings during the month, which included external commercial borrowings (ECBs) and foreign currency convertible bonds (FCCBs), $163.70 million were raised via approval route, while rest of $908.71 million came through the automatic route.
Under approval route, PNB Housing Finance raised $ 150 million for on lending and Himatsingka Seide $ 13 million for refinancing of earlier ECB.
Among those in automatic route fund raising, Glenmark Pharmaceuticals raised $ 200 million for overseas acquisition, Siemens Healthcare Private Ltd $ 113.30 million for general corporate purpose and Idea Cellular $ 64.37 million for refinancing of earlier ECB.