EquityWireIndian cos raise $2.82 bln via overseas debt in Feb, lowest in a year
Indian cos raise $2.82 bln via overseas debt in Feb, lowest in a year
This story was originally published at 19:07 IST on 15 April 2025
Register to read our real-time news.Informist, Tuesday, Apr. 15, 2025
NEW DELHI – Indian companies raised $2.82 billion through external commercial borrowings in February, the lowest figure in a year, data released by the Reserve Bank of India Tuesday showed. The fundraising through external commercial borrowing was the lowest since $2.22 billion in February 2024, and down from $4.00 billion raised in January.
In February, Indian companies raised $2.63 billion through the automatic route, and $197.48 million through the approval route, the data showed. Tata Steel Ltd. raised the most money in February at $750.00 million under the automatic route, followed by Varanasi Aurangabad NH-2 Tollway Pvt. Ltd., which raised $371.25 million through two bonds maturing in 2034. Under the approval route, REC Ltd. was the sole issuer.
Following is the full list of issuances through external commercial borrowing in February:
| I AUTOMATIC ROUTE* | ||||
| ECB/FCCB | Borrower | in mln $ | Purpose | Maturity Period in months |
| ECB | Hydraulique Production Systems India | 0.62 | Working Capital/General Corporate Purpose | 7 Years 5 Months |
| ECB | Ssunsu Wellness India | 0.10 | Working Capital/General Corporate Purpose | 5 Years 8 Months |
| ECB | Leidel & Kracht India | 2.86 | New Project | 10 Years 11 Months |
| ECB | Albatross Projects RF Technology India | 2.60 | New Project | 3 Years 11 Months |
| ECB | Bossar Packaging | 2.39 | Working Capital/General Corporate Purpose | 7 Years 3 Months |
| ECB | Mufin Green Finance | 18.00 | On-lending/Sub-lending. | 9 Years 9 Months |
| ECB | Neotiss | 1.30 | Working Capital/General Corporate Purpose | 9 Years 10 Months |
| ECB | Taurus Packaging | 1.01 | Import of Capital Goods | 4 Years 11 Months |
| ECB | Vastu Housing Finance Corporation | 70.00 | On-lending/Sub-lending. | 7 Years 6 Months |
| ECB | Greentech Industries India | 10.00 | Import of Capital Goods | 2 Years 6 Months |
| ECB | Vantive Healthcare Technologies | 5.00 | Working Capital/General Corporate Purpose | 6 Years |
| ECB | Vantive Healthcare Technologies | 12.00 | Import of Capital Goods | 4 Years |
| ECB | Vantive Healthcare | 6.00 | Working Capital/General Corporate Purpose | 6 Years |
| ECB | Advanced Medtech Solutions | 1.03 | Working Capital/General Corporate Purpose | 5 Years 2 Months |
| ECB | Amapai Corporation India | 0.33 | Import of Capital Goods | 7 Years 3 Months |
| ECB | Aso Hydraulic & Pneumatic India | 2.60 | Working Capital/General Corporate Purpose | 6 Years |
| ECB | Linamar India | 13.78 | Working Capital/General Corporate Purpose | 5 Years |
| ECB | Indystems IT | 4.86 | Working Capital/General Corporate Purpose | 17 Years 2 Months |
| ECB | Polyvision Ceramicsteel India | 0.12 | Working Capital/General Corporate Purpose | 6 Years 11 Months |
| ECB | Logo Infosoft Business Technology | 0.75 | Working Capital/General Corporate Purpose | 5 Years 2 Months |
| ECB | Samhyun Motions and Controls India | 0.34 | New Project | 3 Years |
| ECB | Eurostampa India | 2.60 | Modernisation | 10 Years |
| ECB | Boxseat Ventures | 0.34 | Working Capital/General Corporate Purpose | 5 Years |
| ECB | AB Mauri India | 14.93 | Local sourcing of capital goods (Rupee expenditure) | 3 Years 1 Months |
| ECB | Esjay Pharma | 10.00 | Working Capital/General Corporate Purpose | 5 Years 11 Months |
| ECB | Mahindra And Mahindra Financial Services | 150.00 | On-lending/Sub-lending. | 3 Years |
| ECB | Bandai Namco India | 0.35 | Local sourcing of capital goods (Rupee expenditure) | 5 Years |
| ECB | Virtuous Tradecorp | 41.35 | Refinancing of Rupee loans | 10 Years |
| ECB | Denzai Technologies India | 0.17 | Working Capital/General Corporate Purpose | 6 Years |
| ECB | Nippon Steel Engineering India | 3.45 | Working Capital/General Corporate Purpose | 5 Years |
| ECB | Khaba Renewable Energy | 24.94 | New Project | 21 Years 2 Months |
| ECB | Sciegen Pharmaceuticals India | 5.00 | Modernisation | 11 Years 2 Months |
| ECB | Webasto Roofsystem India | 15.61 | Local sourcing of capital goods (Rupee expenditure) | 5 Years |
| ECB | Cholamandalam Investment And Finance Company | 125.00 | On-lending/Sub-lending. | 3 Years |
| ECB | Veeglow Industries | 0.55 | Import of Capital Goods | 7 Years |
| ECB | Nikkari Machinery India | 0.60 | Working Capital/General Corporate Purpose | 12 Years 3 Months |
| ECB | Toyomura Electronics India | 0.07 | Working Capital/General Corporate Purpose | 5 Years |
| ECB | Stellar Value Chain Solutions | 8.30 | Working Capital/General Corporate Purpose | 6 Years 8 Months |
| ECB | JSW Cement | 92.86 | Refinancing of Earlier ECB | 3 Years 1 Months |
| ECB | Trilliant Networks India | 0.59 | Working Capital/General Corporate Purpose | 5 Years 9 Months |
| ECB | Sthree Chemicals | 2.50 | Working Capital/General Corporate Purpose | 6 Years 4 Months |
| ECB | Wellesta India | 0.20 | Working Capital/General Corporate Purpose | 6 Years |
| ECB | SSS Chuhatsu Precision Springs | 0.82 | Working Capital/General Corporate Purpose | 7 Years 1 Months |
| ECB | Mars International India | 38.27 | Working Capital/General Corporate Purpose | 15 Years 10 Months |
| ECB | Nidec Industrial Automotive India | 21.94 | New Project | 1 Years |
| ECB | Esyasoft Technologies | 1.30 | Working Capital/General Corporate Purpose | 7 Years |
| ECB | Vgrown Tech | 29.30 | Working Capital/General Corporate Purpose | 5 Years 1 Months |
| ECB | Pronk Multiservice India | 0.63 | Working Capital/General Corporate Purpose | 5 Years |
| ECB | Cablex Connectivity Solutions India | 0.62 | Working Capital/General Corporate Purpose | 8 Years 6 Months |
| ECB | Aisin Automotive Haryana | 6.89 | Working Capital/General Corporate Purpose | 7 Years |
| ECB | ZM Services India | 8.00 | Local sourcing of capital goods (Rupee expenditure) | 5 Years 1 Months |
| ECB | Jitech India | 3.00 | Modernisation | 6 Years |
| ECB | Spica Industries | 0.75 | Import of Capital Goods | 5 Years 7 Months |
| ECB | Berkel Industries | 0.73 | Working Capital/General Corporate Purpose | 5 Years 6 Months |
| ECB | IBCC Industries (India) | 3.45 | New Project | 13 Years 7 Months |
| ECB | Pact Closure Systems (India) | 0.85 | Import of Capital Goods | 5 Years |
| ECB | Allison Transmission India | 97.45 | New Project | 9 Years 11 Months |
| ECB | Tata Steel | 750.00 | Overseas Investment in JV/WOS | 6 Years |
| ECB | Asti Electronics India | 3.29 | Modernisation | 7 Years 11 Months |
| ECB | Efeso Professional Services India | 0.16 | Working Capital/General Corporate Purpose | 7 Years |
| ECB | Mundra Petrochem | 100.00 | New Project | 17 Years |
| ECB | Sunpark Global Food India | 0.13 | New Project | 10 Years |
| ECB | Esyasoft Lands and GYR | 4.00 | Local sourcing of capital goods (Rupee expenditure) | 9 Years 10 Months |
| ECB | Lam Research (India) | 140.00 | New Project | 3 Years 4 Months |
| ECB | Innocsr India | 0.10 | Working Capital/General Corporate Purpose | 5 Years 3 Months |
| ECB | Isante Agri | 0.20 | Working Capital/General Corporate Purpose | 5 Years |
| ECB | Rolta Generative Intelligence | 46.00 | Working Capital/General Corporate Purpose | 10 Years |
| ECB | Lavender Ecopower | 6.00 | New Project | 22 Years 7 Months |
| ECB | Viola Clean Energy | 6.00 | New Project | 22 Years 7 Months |
| ECB | Dahlia Green Energy | 6.00 | New Project | 22 Years 7 Months |
| ECB | Lilac Ecoenergy | 6.00 | New Project | 22 Years 7 Months |
| ECB | Thai Wah International (India) | 0.28 | Working Capital/General Corporate Purpose | 5 Years 1 Months |
| ECB | JBJ Technologies | 0.73 | Refinancing of Rupee loans | 7 Years 1 Months |
| ECB | Daechang Seat Automotive | 9.74 | Refinancing of Earlier ECB | 1 Years |
| ECB | Nitta Corporation India | 2.37 | New Project | 5 Years |
| ECB | Kaga Electronics India | 0.99 | Working Capital/General Corporate Purpose | 5 Years |
| ECB | Schneeberger India | 0.34 | Working Capital/General Corporate Purpose | 5 Years 7 Months |
| ECB | Fabory Masters IN Fasteners India | 0.16 | Working Capital/General Corporate Purpose | 5 Years 1 Months |
| ECB | FS Compressors India | 10.00 | New Project | 14 Years 4 Months |
| ECB | Alfran (India) Technology Solutions | 0.06 | Working Capital/General Corporate Purpose | 10 Years |
| ECB | Alfran (India) Technology Solutions | 0.27 | Working Capital/General Corporate Purpose | 10 Years |
| ECB | Legero United Shoes India | 1.35 | Import of Capital Goods | 7 Years 7 Months |
| ECB | Doosan Power Systems India | 31.03 | Working Capital/General Corporate Purpose | 5 Years |
| ECB | Ecofy Finance | 12.50 | On-lending/Sub-lending. | 6 Years 10 Months |
| ECB | Mavi Care Services India | 0.22 | Working Capital/General Corporate Purpose | 5 Years 1 Months |
| ECB | Yanmar Engine Manufacturing India | 11.65 | Working Capital/General Corporate Purpose | 5 Years |
| ECB | Mavi Automotive Solutions India | 0.17 | Working Capital/General Corporate Purpose | 5 Years 1 Months |
| ECB | Kashiv Research | 1.85 | New Project | 5 Years 1 Months |
| ECB | Michelin India | 20.68 | Refinancing of Rupee loans | 5 Years |
| ECB | Varanasi Aurangabad NH-2 Tollway | 180.26 | Infrastructure Development | 8 Years 11 Months |
| ECB | Varanasi Aurangabad NH-2 Tollway | 191.00 | Refinancing of Rupee loans | 8 Years 11 Months |
| ECB | Nova Carbons India | 3.70 | New Project | 14 Years 10 Months |
| ECB | SNF (India) | 20.00 | Modernisation | 5 Years |
| ECB | Yanmar Agricultural Machinery India | 2.30 | Working Capital/General Corporate Purpose | 5 Years |
| ECB | HPCL-Mittal Energy | 100.00 | Local sourcing of capital goods (Rupee expenditure) | 4 Years 4 Months |
| ECB | Renolit India | 0.74 | Import of Capital Goods | 7 Years 1 Months |
| ECB | PLR Systems | 3.45 | Working Capital/General Corporate Purpose | 5 Years 1 Months |
| ECB | Pranavam Aerospace | 0.63 | Local sourcing of capital goods (Rupee expenditure) | 5 Years |
| ECB | Malhotra Realty | 3.70 | Working Capital/General Corporate Purpose | 10 Years |
| ECB | e-Fly Electronics | 0.26 | Working Capital/General Corporate Purpose | 5 Years |
| ECB | SMFG India Home Finance Co. | 50.00 | On-lending/Sub-lending. | 3 Years |
| ECB | Arka PVDCoating | 0.70 | New Project | 16 Years 1 Months |
| ECB | Adastraindia Data Services | 0.36 | Working Capital/General Corporate Purpose | 5 Years |
| ECB | Syaqua India | 2.50 | Working Capital/General Corporate Purpose | 5 Years 2 Months |
| ECB | Vinfast Auto India | 25.00 | Local sourcing of capital goods (Rupee expenditure) | 1 Years |
| ECB | Novaref Ceramic Rollers | 0.26 | Working Capital/General Corporate Purpose | 6 Years 9 Months |
| ECB | Bombay Autism Services | 0.50 | Working Capital/General Corporate Purpose | 3 Years 6 Months |
| 2626.75 | ||||
| II APPROVAL ROUTE* | ||||
| ECB | REC Limited | 197.48 | On-lending/Sub-lending. | 5 Years |
| Approval Route Total(II) | 197.48 | |||
| Grand Total (I+II) | 2824.23 | |||
End
US$1 = INR 85.77
Reported by Aaryan Khanna
Compiled by Mansi Patil
Edited by Saji George Titus
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (11) 4220-1000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2025. All rights reserved.
To read more please subscribe
Share this Story:
