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Our Bureau

Chennai May 10 Indian companies raised a little over $3 billion equivalent to about Rs 13,000 crore through external commercial borrowings (ECBs) in February 2007, according to figures provided by the Reserve Bank of India. About 86 companies raised money abroad during the month.

In January 2007, 81 companies raised about $1.29 billion.

The figures for March 2007 are not available yet.

Cumulatively, about 812 companies have raised about $20.24 billion through ECBs in the April 2006-February 2007 period. That would be equivalent to about Rs 88,000 crore. Domestic loans given by banks during fiscal 2007 were about Rs 4,15,000 crore.

There have been reports that the Government plans to hike the cap on ECB currently fixed at $18 billion to about $22 billion.

The top fundraiser in February was Reliance Industries, which raised $700 million, followed by Reliance Communication, which raised $500 million.

Adani Enterprises raised $250 million while Jet Airways raised $177.50 million. HDFC was the top borrower in January with about $200 million.

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