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Indian Firms' Foreign Borrowing Down 77% in April: RBI

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Mumbai: Indian companies raised over $727.33 million from overseas markets in April 2015, down 77.3 per cent from a year ago, data from the Reserve Bank of India (RBI) showed.

The domestic firms had raised $3.2 billion from overseas in the corresponding period a year ago.

Of the total borrowings during the month, $58.25 million was raised through approval route while $669.09 million came through automatic route, the RBI data showed.

Among the major companies that raised money overseas in April were HDFC Ltd ($300 million), THDC India ($90.6 million), JSW Steel (86.32 million), Huawei Telecommunications India ($50 million) and Shree Cement ($40 million).

In approval route, Metso India Pvt Ltd raised $38.25 million for general corporate purpose and Sunstream City raised $20 million for urban infrastructure development.


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