EquityWireIndian cos' overseas debt issuance falls 74% on month to $2.92 bln in April
Indian cos' overseas debt issuance falls 74% on month to $2.92 bln in April
This story was originally published at 12:36 IST on 12 June 2025
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--RBI: Indian cos raised $2.92 bln via external commercial borrowing in Apr
MUMBAI – Indian companies raised $2.92 billion through external commercial borrowings in April, data released by the Reserve Bank of India Thursday showed. The figure was sharply down from $11.04 billion raised in March, which was a six-year high.
In April, Indian companies raised $1.91 billion through the automatic route, down from $8.35 billion in March. Through the approval route, the figure was $1.01 billion, compared with $2.70 billion in the previous month. SMFG India Credit Co. Ltd. raised the most at $208.45 million in April under the automatic route, followed by Indian Renewable Energy Development Agency Ltd., which raised $180.66 million. Under the approval route, Shriram Finance Ltd. raised the most at $830 million.
Following is the full list of issuances through external commercial borrowing in April:
| I AUTOMATIC ROUTE* | ||||
| ECB/FCCB | Borrower | in mln $ | Purpose | Maturity Period in months |
| ECB | Teensky India | 0.37 | Modernisation | 7 Years 8 Months |
| ECB | Sharadha Terry Products | 1.75 | New Project | 3 Years 8 Months |
| ECB | Nexgen Automation Systems | 0.18 | Working capital/general corporate purpose | 6 Years 11 Months |
| ECB | Panchal Engineers (India) | 0.27 | Import of Capital Goods | 5 Years 1 Months |
| ECB | PSA Sical Terminals | 2.34 | Working capital/general corporate purpose | 5 Years 9 Months |
| ECB | Shrinath Rotopack | 1.87 | Import of Capital Goods | 5 Years 3 Months |
| ECB | Intas Pharmaceuticals | 151.83 | Others | 5 Years |
| ECB | AM Green Ammonia (India) | 130.00 | New Project | 3 Years 4 Months |
| ECB | Turner & Townsend | 7.38 | Working capital/general corporate purpose | 5 Years 1 Months |
| ECB | NTT Global Data Centers And Cloud Infrastructure India | 151.94 | Modernisation | 11 Years 11 Months |
| ECB | Intas Pharmaceuticals | 151.83 | Others | 5 Years |
| ECB | Enza Zaden India | 3.51 | Working capital/general corporate purpose | 8 Years 7 Months |
| ECB | Nitta Filters India | 0.35 | Working capital/general corporate purpose | 5 Years |
| ECB | Doosan Bobcat India | 10.00 | Working capital/general corporate purpose | 5 Years |
| ECB | TSMT Technology (India) | 10.00 | Import of Capital Goods | 5 Years 6 Months |
| ECB | Sungwoo Hitech Pune | 20.24 | Local Sourcing of Capital Goods (Rupee Expenditure) | 5 Years |
| ECB | Yjlink India | 0.50 | Working capital/general corporate purpose | 10 Years |
| ECB | Lihaon Automotive India | 1.80 | Working capital/general corporate purpose | 10 Years |
| ECB | Topre India . | 1.79 | Working capital/general corporate purpose | 7 Years 11 Months |
| ECB | Advanced Medtech Solutions | 1.17 | Working capital/general corporate purpose | 5 Years 2 Months |
| ECB | Optima India Packaging Machines | 1.02 | Working capital/general corporate purpose | 5 Years 1 Months |
| ECB | Zhongshan Crop Science India | 0.10 | Working capital/general corporate purpose | 5 Years |
| ECB | Delightful Foods | 0.12 | Working capital/general corporate purpose | 6 Years |
| ECB | Parfimpex | 0.12 | Working capital/general corporate purpose | 7 Years |
| ECB | Alliance Recpet | 2.32 | Import of Capital Goods | 3 Years |
| ECB | Futurewell Shoes | 0.28 | Local Sourcing of Capital Goods (Rupee Expenditure) | 5 Years |
| ECB | Hinduja Leyland Finance | 50.00 | On-Lending or Sub-Lending | 4 Years 6 Months |
| ECB | Curium Pharma (India) | 7.92 | Working capital/general corporate purpose | 5 Years 3 Months |
| ECB | Kikuwa India | 1.81 | Import of Capital Goods | 15 Years 9 Months |
| ECB | Unitherm Nova Coating India | 0.92 | Working capital/general corporate purpose | 7 Years 4 Months |
| ECB | Starion India . | 3.00 | Working capital/general corporate purpose | 8 Years 6 Months |
| ECB | Optimare India | 2.14 | Working capital/general corporate purpose | 5 Years 10 Months |
| ECB | WM Thermoforming Machines India | 0.34 | Working capital/general corporate purpose | 7 Years |
| ECB | Texab | 0.30 | Local Sourcing of Capital Goods (Rupee Expenditure) | 3 Years |
| ECB | Rothwell Business International | 0.16 | Working capital/general corporate purpose | 7 Years |
| ECB | Twin Green Tech | 1.00 | Working capital/general corporate purpose | 5 Years 8 Months |
| ECB | AVI Excellence | 0.39 | Working capital/general corporate purpose | 7 Years |
| ECB | Kimoha (India) | 0.55 | Working capital/general corporate purpose | 11 Years |
| ECB | NBI India | 3.27 | New Project | 10 Years |
| ECB | Collaboration And Communication Technologies | 1.00 | Working capital/general corporate purpose | 10 Years 2 Months |
| ECB | Adesso India | 0.45 | Working capital/general corporate purpose | 8 Years 6 Months |
| ECB | Cheng May Technologies India | 3.00 | Import of Capital Goods | 5 Years |
| ECB | Universal Music India | 15.19 | Working capital/general corporate purpose | 15 Years |
| ECB | ATC Tires AP | 5.00 | Modernisation | 7 Years 10 Months |
| ECB | Greentech Industries India . | 10.00 | Import of Capital Goods | 2 Years 8 Months |
| ECB | Zimmer Automation | 0.47 | Working capital/general corporate purpose | 5 Years 1 Months |
| ECB | Chandra Prabhu Offset Printing Works . | 0.41 | Local Sourcing of Capital Goods (Rupee Expenditure) | 7 Years |
| ECB | Tao Digital India | 18.00 | Refinancing of Rupee Loans | 7 Years |
| ECB | Aerzen Machines (India) . | 2.92 | Modernisation | 7 Years 9 Months |
| ECB | Bukaka Three D | 0.30 | Working capital/general corporate purpose | 5 Years 1 Months |
| ECB | Sheepmedical India | 0.10 | Working capital/general corporate purpose | 5 Years 2 Months |
| ECB | Siemens Financial Services | 23.38 | On-Lending or Sub-Lending | 5 Years 1 Months |
| ECB | Interglobe Aviation | 110.42 | Import of Capital Goods | 12 Years |
| ECB | L&T Finance | 112.47 | On-Lending or Sub-Lending | 3 Years |
| ECB | Hygiia Ventures | 0.71 | New Project | 3 Years |
| ECB | Neoperl India | 3.05 | New Project | 11 Years 6 Months |
| ECB | NIDEC India | 9.35 | Import of Capital Goods | 2 Years 11 Months |
| ECB | IPG Asia | 15.00 | Import of Capital Goods | 5 Years 4 Months |
| ECB | Aban Drilling Services | 4.00 | Working capital/general corporate purpose | 5 Years 6 Months |
| ECB | Lihaon Automotive India | 0.80 | Local Sourcing of Capital Goods (Rupee Expenditure) | 10 Years |
| ECB | Miyama Electric India | 0.35 | Import of Capital Goods | 4 Years 11 Months |
| ECB | Spectra Clothing International | 3.00 | New Project | 5 Years 9 Months |
| ECB | Teeming Automation India | 1.00 | New Project | 6 Years |
| ECB | Air Water India | 19.87 | New Project | 4 Years 6 Months |
| ECB | Muenzer Bharat | 1.57 | Working capital/general corporate purpose | 8 Years 8 Months |
| ECB | Indian Renewable Energy Development Agency | 180.66 | On-Lending or Sub-Lending | 5 Years 2 Months |
| ECB | Sozio Fragrances India | 0.87 | Local Sourcing of Capital Goods (Rupee Expenditure) | 4 Years 11 Months |
| ECB | Veeglow Industries | 0.35 | Import of Capital Goods | 7 Years |
| ECB | Kai Manufacturing India | 1.37 | Working capital/general corporate purpose | 5 Years |
| ECB | 3D Technopack | 2.39 | Import of Capital Goods | 8 Years 11 Months |
| ECB | Otsuka Pharmaceutical India | 0.63 | Working capital/general corporate purpose | 7 Years |
| ECB | Enveda Therapeutics India | 3.42 | Local Sourcing of Capital Goods (Rupee Expenditure) | 12 Years 5 Months |
| ECB | Kemira Chemicals (India) | 0.45 | Working capital/general corporate purpose | 5 Years |
| ECB | GT Cargo Fittings India | 0.66 | Working capital/general corporate purpose | 7 Years 5 Months |
| ECB | Refratechnik (India) | 3.37 | Working capital/general corporate purpose | 5 Years |
| ECB | IAV India Tech | 0.58 | Working capital/general corporate purpose | 5 Years |
| ECB | Nagata Auto Engineering India | 1.58 | Local Sourcing of Capital Goods (Rupee Expenditure) | 9 Years 6 Months |
| ECB | Mozano Advisory | 7.00 | Working capital/general corporate purpose | 11 Years 11 Months |
| ECB | Interglobe Aviation | 106.00 | Import of Capital Goods | 12 Years 1 Months |
| ECB | Forsee Power India | 1.05 | Working capital/general corporate purpose | 5 Years |
| ECB | Toyota Kirloskar Auto Parts | 37.00 | New Project | 5 Years 11 Months |
| ECB | Takemoto Yohki India | 3.13 | Local Sourcing of Capital Goods (Rupee Expenditure) | 6 Years 11 Months |
| ECB | Alliance Recpet | 2.76 | Import of Capital Goods | 5 Years |
| ECB | Grit International Logistics | 0.70 | Working capital/general corporate purpose | 7 Years 9 Months |
| ECB | Daiki Axis Environment | 2.00 | New Project | 7 Years 11 Months |
| ECB | Semitec Electronics India | 0.99 | Working capital/general corporate purpose | 5 Years |
| ECB | Awign Enterprises | 4.17 | Working capital/general corporate purpose | 5 Years |
| ECB | GKS Digital India | 2.00 | New Project | 10 Years |
| ECB | Hankuk Fiber India | 0.39 | Working capital/general corporate purpose | 10 Years |
| ECB | PHA India | 15.00 | New Project | 6 Years |
| ECB | Delightful Foods | 0.12 | Working capital/general corporate purpose | 10 Years |
| ECB | KTC Holdings India | 0.06 | Working capital/general corporate purpose | 5 Years |
| ECB | Serto Tube Connectors India | 0.33 | Working capital/general corporate purpose | 15 Years 7 Months |
| ECB | Pladis India | 1.19 | Working capital/general corporate purpose | 5 Years 1 Months |
| ECB | Witzenmann India | 1.24 | Import of Capital Goods | 5 Years 5 Months |
| ECB | American Tec Electronic India | 0.15 | Import of Capital Goods | 11 Years 5 Months |
| ECB | Vantive Healthcare | 14.00 | Working capital/general corporate purpose | 9 Years |
| ECB | Breck Technologies India | 0.05 | Working capital/general corporate purpose | 7 Years |
| ECB | Breck Technologies India | 0.05 | Local Sourcing of Capital Goods (Rupee Expenditure) | 5 Years |
| ECB | Multivac Laraon Production India | 0.53 | Working capital/general corporate purpose | 7 Years 2 Months |
| ECB | Penetron Infra Products | 0.30 | Working capital/general corporate purpose | 6 Years 7 Months |
| ECB | Crest Cellulose | 9.00 | Refinancing of Rupee Loans | 7 Years 11 Months |
| ECB | Mirapro india | 0.52 | Working capital/general corporate purpose | 14 Years |
| ECB | Mirapro india | 0.31 | Local Sourcing of Capital Goods (Rupee Expenditure) | 12 Years |
| ECB | Terraquest Solutions | 0.07 | Working capital/general corporate purpose | 5 Years |
| ECB | Rockwool Technical Insulation India | 26.88 | New Project | 5 Years |
| ECB | Vishwa Samudra Holdings | 44.99 | Local Sourcing of Capital Goods (Rupee Expenditure) | 7 Years |
| ECB | Arbrown India Trading | 0.40 | Working capital/general corporate purpose | 5 Years |
| ECB | Qube Cinema Technologies | 2.81 | Import of Capital Goods | 5 Years 7 Months |
| ECB | VD Jewels Artison | 1.00 | Working capital/general corporate purpose | 5 Years |
| ECB | SMFG India Credit Company | 208.45 | On-Lending or Sub-Lending | 3 Years |
| ECB | Steinweg Sharaf (India) | 7.60 | New Project | 10 Years 1 Months |
| ECB | Sheng Huei Technology India | 2.50 | Working capital/general corporate purpose | 5 Years |
| ECB | Vishwa Samudra Dredging | 109.58 | New Project | 12 Years 1 Months |
| ECB | Tecnocap Oriental | 0.79 | Refinancing of Earlier ECB | 6 Years 7 Months |
| ECB | EGDK India | 2.47 | Working capital/general corporate purpose | 5 Years |
| ECB | Norse Brands | 0.05 | Working capital/general corporate purpose | 5 Years |
| ECB | Sefar India | 5.62 | New Project | 11 Years 9 Months |
| ECB | Techaviom Finance | 0.13 | Working capital/general corporate purpose | 10 Years |
| 1906.41 | ||||
| II APPROVAL ROUTE* | ||||
| ECB | Interglobe Aviation | 55.21 | Import of Capital Goods | 12 Years |
| ECB | Shriram Finance | 830.00 | On-Lending or Sub-Lending | 3 Years |
| ECB | Shriram Finance | 125.00 | On-Lending or Sub-Lending | 5 Years |
| Approval Route Total(II) | 1010.21 | |||
| Grand Total (I+II) | 2916.62 | |||
End
US$1 = INR 85.5300
Reported by Vidhushi RajPurohit
Compiled by Mansi Patil
Edited by Akul Nishant Akhoury
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