Indian companies' foreign borrowing down 77% to $727 million in April: RBI

MUMBAI: Indian companies raised over $727.33 million from overseas markets in April 2015, down 77.3 per cent from a year ago, according to RBI data.

The domestic firms had raised $3.2 billion from overseas in the same month 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.