India Inc All Set For $6.5b ECBs

India Inc is seriously looking at overseas for funding. Led by companies like Reliance Industries, R-ADAG, Hindalco and Suzlon, India Inc is expected to mobilize around $6.5 billion through external commercial borrowings (ECBs) in the next three months. Hindalco is planning to mop up ECBs to part-fund its Novelis acquisition while Suzlon Energy is planning an ECB issue to finance its over e1.02-billion bid for German wind power company REpower Systems. RIL and R-ADAG are planning to float ECBs for expansion. As the ECB route allows corporates access to a huge fund pool, companies with large capex requirements tap them the most.