A total of 50 companies mopped up $2.83 billion via overseas borrowings in September, according to the Reserve Bank of India''s data on external commercial borrowings (ECBs) and foreign currency convertible borrowings (FCCBs). According to the RBI data, 21 companies mopped up $370 million via the automatic route and $2.46 billion via the approval route. This is higher than in August, when corporates had mopped up $1.6 billion via ECBs and FCCBs. Some of the companies that raised money through ECB comprised Reliance Industries.
($1.65 billion for project), Gujarat State Petroleum Corporation ($325 million for import of capital goods), GTL Infrastructure ($175 million for rupee expenditure and import of capital goods) and Bhushan Power and Steel ($55 million for import of capital goods).
($1.65 billion for project), Gujarat State Petroleum Corporation ($325 million for import of capital goods), GTL Infrastructure ($175 million for rupee expenditure and import of capital goods) and Bhushan Power and Steel ($55 million for import of capital goods).
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