Indian companies including Essar Steel, Tata International and Videocon Oil Ventures invest $3.30 bn overseas in January

MUMBAI: Overseas direct investment by Indian companies, including Essar Steel, Tata International and Videocon Oil Ventures, rose to USD 3.30 billion in January, a rise of 28.4 per cent from a month ago, RBI data showed today.

The domestic companies had made an investment to the tune of USD 2.57 billion in December 2012.

A total of 480 deals took place during the month to carry out outward foreign direct investments, it said.

Bharat Petroresources, Cox & Kings India, IVRCL and HCL Technologies were also among major overseas investors during January, 2013.

Bharat Petroresources made an investment of USD 439.37 million during the month in its wholly owned subsidiary in the Netherlands.

Cox & Kings India invested USD 259.90 million in six different deals in its wholly owned subsidiaries based in Hongkong, Singapore, the UK, Japan and Indonesia.

Essar Steel India invested USD 155.45 million in its wholly owned unit in the United Arab Emirates and Tata International invested USD 128.01 million in its subsidiary in Singapore.

Videocon Oil Ventures pumped in USD 127.27 million in its wholly owned unit in Cayman Island, IVRCL invested USD 71.51 million in Sri Lanka and HCL Technologies made an investment of USD 66 million in Bermuda in a subsidiary. PTI KPM KSR 02071922 NNNN