New Delhi: India Inc's foreign borrowings grew over two-fold to $3.41 billion in October over the corresponding month a year ago, according to the Reserve Bank of India data.
Indian companies had raised $1.41 billion in borrowings from overseas markets in October 2018.
Of the total money borrowed by the domestic companies, $2.87 billion was through the automatic route of external commercial borrowing (ECB), 4538 million came in through the approval route of ECB.
In the ECB category, the major borrowers tapping the automatic route included Muthoot Finance ($400 million), HPCL-Mittal Energy ($300 million), Wardha Solar (Maharashtra) ($251 million), Larsen and Toubro ($200 million), Deccan Fine Chemicals ($140 million) and Aditya Birla Finance ($75 million).
Two companies tapped the approval route with JSW Steel raising $400 million, while Shriram Transport Finance borrowed $138 million in October this year.
No money was raised through the rupee-denominated bonds or the masala bonds during the month, nor in the year-ago period.
