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India Inc foreign borrowing jumps over 2-fold to $3.92 bn in April

India Inc raised USD 3.92 billion from overseas markets in the first month of the current financial year, up more than two-times from a year-ago period.

Among major companies which tapped the overseas market to raise capital included – Reliance Jio (USD 747.03 million), Aditya Birla Finance (USD 152.35 million), Vayu Urja Bharat Private Ltd (USD 155 million) and JSW Steel Ltd (USD 100 million).

All these firms raised the money through automatic route of external commercial borrowings (ECBs).

In the approval route category for ECBs, Tata Sons raised USD 1.5 billion for other purpose while Dewan Housing Finance Ltd raised USD 152.35 million (Rs 1,000 crore) by tapping the rupee denominated bonds (RDBs) during the month.

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Banking/Finance-Industry-The Economic Times

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