InvestorQ : Which are the Indian companies that managed to raise money through ECBs in the previous month?
Anamika Sodhani made post

Which are the Indian companies that managed to raise money through ECBs in the previous month?

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Angel dcosta answered.
3 days ago
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In a difficult month of March 2021, the Indian companies managed to raise a sum of $9.23 billion via external commercial borrowings or ECBs. That is a growth of nearly 24% on a yoy basis as Indian companies had raised only $7.44 billion in Mar-20. Out of this $9.23 billion raised via ECBs, $5.35 billion was via the ECB approval route while the remaining $3.8 billion came in through the ECB automatic route.

Indian companies did not evince any interest either in raising money through masala bonds or through RDBs; both of which are rupee denominated bonds bereft of currency risk. Among the major players that raised via ECB approval route were IRFC, ONGC Videsh and REC. In fact, IRFC alone had raised $3.33 billion via ECBs in the month of Mar-21.

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