The Hindu Business Line : Companies raise $1.5 b thru ECBs

Indian corporates raised $1.5 billion through external commercial borrowings and foreign currency convertible borrowings (FCCB) in August, according to data released by the Reserve Bank of India. In July, the total ECB and FCCB raised by companies was higher by about $1 billion, at $2.46 billion. A total of 25 companies raised money through the automatic route, while 35 companies raised money through the approval route. Among the companies that raised foreign funds in August were the National Aviation Company of India, which raised $214 million for import of capital goods; Idea Cellular, which raised $210 million for import of capital goods; Hindustan Sanitaryware which raised $16 million for rupee expenditure and Dongsung Precision Company which raised $366 million for import of capital goods. - Our Bureau

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