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Indian companies garnered $2.7 billion from overseas markets in January, much lower than $4.46 billion raised in December, according to the RBI.
They raised over $2.7 billion through external commercial borrowings (ECBs) and foreign currency convertible bonds (FCCBs), showed the Reserve Bank of India data.
In January, 73 Indian firms including Power Grid Corp, Adani Power and Videocon Industries raised money from overseas markets.
Five entities mopped up about $1.74 billion through the automatic route — whereby a company can raise as much as $750 million from overseas without prior RBI approval.
Meanwhile, under the approval route, five companies raised around $917.69 million through ECBs.
State-owned Power Grid Corp raised $640.50 million in two tranches for its projects, while Videocon Industries garnered $178.5 million for import of capital goods.
Nuclear Power Corp of India raised $250 million for power projects and Adani Ports and SEZ raised $225 million for ports development programme through the automatic route.
Further, Adani Power garnered $150 million for various projects.
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