Flipkart, Exim Bank lead $8.13 billion external borrowing proposals in August

Mumbai: Indian companies have sought permission to raise $8.13 billion in external commercial borrowings (ECBs) in August 2026, up 6% from the $7.70 billion reported in July, data from the Reserve Bank of India (RBI) showed.

The proposals for raising ECBs were led by Walmart owned Flipkart Internet Pvt Ltd which has proposed to raise $1.14 billion through a three year loan for on lending and sub lending purposes from the foreign equity holder. Export-Import Bank of India registered three different ECBs aggregating to $1.31 billion of various tenures registered during the month.

Other big ECB proposals included the Power Finance Corporation’s $775 million aggregate request for general corporate purposes. REC Ltd and NaBFID, two other government backed financiers also have proposed to raise $500 million each during the month.


Indian Oil Corp has also proposed to raise a five year loan to fund manufacture of coke and refined petroleum products. SIDBI has also proposed to raised $500 million through a seven year ECB to refinance an existing rupee loan.

The data is based on applications for ECB for which the central bank allotted loan registration numbers in August.