Meanwhile, out of the total amount of $967.5 million mobilised from overseas during November, loans aggregating $951.5 million were raised through the automatic route, while, another $16 million was raised through the approval route of the RBI.
Among the corporates that raised big-ticket loans under the automatic route, Suzuki Powertrain India Ltd raised a term loan of $138 million via ECB for financing a new project. Maruti Suzuki Automobiles India Ltd was also seen borrowing through the ECB route. It raised $102 million for 7.3 years, also for project financing. Meanwhile, in two other separate exercises, Reliance Industries Ltd (RIL) borrowed a total of $211 million for refinancing old loans. Both borrowings are for a period of five years, said the RBI.
Non-banking finance company (NBFC), Srei Infrastructure Finance Ltd raised a total of $6.7 million via ECBs under the RBIs approval route. The funds raised for a little over 8 years were for the purpose of import of capital goods, the RBI said. Tasty Bite Eatables Ltd was at the approval window, for raising $8 million for modernising of existing facilities.
| 15 corporates garner close to $383 million for project financing |
Loans up to $951.5 million were raised through the automatic route
$16 million was raised through the approval route of the RBI