India Inc’s resource raising via the external commercial borrowing (ECB) route at $5.20 billion in November 2022 is the highest in FY23 so far, going by RBI data.
Overseas fundraising in November is 3.63 times what Indian companies mopped up in the preceding month. In October 2022, India Inc raised $1.43 billion via ECBs.
Reliance Industries Ltd and Reliance Jio Infocomm Ltd together accounted for about 58 per cent of the resources raised by India Inc. These two companies raised $1.5 billion each.
Also read:India Inc recorded 2,007 deals worth $127 billion in 2022: Report
Besides the aforementioned companies, the other big fundraisers in November include Renew Surya Roshni Private Ltd ($985 million), Hindustan Petroleum Corporation Ltd ($250 million), JSW Vijayanagar Metallics Ltd ($200 million), Adani Solar Energy AP Six Private Limited ($196.62 million), and Larsen and Toubro Limited ($107 million).
Overall, Indian companies raised $16.99 billion in the first eight months of FY23 against $18.51 billion in the year ago period.
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.