EquityWireECB Route: Indian companies raise $3.27 bln via external commercial borrowing route in August
ECB Route
Indian companies raise $3.27 bln via external commercial borrowing route in August
This story was originally published at 19:41 IST on 14 October 2025
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--RBI: Indian cos raised $3.27 bln via external commercial borrowing in Aug
MUMBAI – Indian companies raised $3.27 billion through external commercial borrowings in August, data from the Reserve Bank of India Tuesday showed. The amount was lower than $3.32 billion raised in July and $3.48 billion raised in June.
Of the total, Indian companies raised $2.22 billion through the automatic route, with Sammaan Capital being the largest borrower at $300 million. The amount that was raised through the approval route was $1.05 billion, according to the data.
Muthoot Finance Ltd. raised the most money in August at $600 million and REC Ltd. followed with $450 million, both through the approval route. All three non-banking finance companies raised the money for on-lending or sub-lending purposes.
Following is the full list of issuances through external commercial borrowing in August:
| I AUTOMATIC ROUTE* | ||||
| ECB/FCCB | Borrower | in $ mln | Purpose | Maturity Period in months |
| ECB | Pirona Technologies | 0.01 | Working Capital/General Corporate Purpose | 5 Years |
| ECB | Emuge-Franken India | 0.44 | Modernisation | 6 Years |
| ECB | Docskiff India | 1.42 | Working Capital/General Corporate Purpose | 5 Years 4 Months |
| ECB | Engie Energy India | 47.86 | Working Capital/General Corporate Purpose | 8 Years 3 Months |
| ECB | JK Tyre & Industries | 17.45 | Modernisation | 11 Years 7 Months |
| ECB | Liebherr Machine Tools India | 4.65 | Modernisation | 5 Years 7 Months |
| ECB | Indian Oil Corporation | 170.00 | Refinancing of Earlier ECB | 1 Years 4 Months |
| ECB | Auto Ingress India | 1.75 | New Project | 15 Years 5 Months |
| ECB | Antunes Manufacturing India | 2.50 | Working Capital/General Corporate Purpose | 7 Years 8 Months |
| ECB | JK Tyre & Industries | 12.45 | Modernisation | 11 Years 7 Months |
| ECB | Dana TM4 India | 14.85 | Refinancing of Rupee Loans | 5 Years 2 Months |
| ECB | EcoEngeneration | 50.00 | Infrastructure Development | 10 Years |
| ECB | Universal Music India | 59.42 | Working Capital/General Corporate Purpose | 15 Years |
| ECB | Sarvhitay Elements . | 0.40 | Working Capital/General Corporate Purpose | 6 Years 11 Months |
| ECB | Barnes Molding Solutions India | 1.00 | Import of Capital Goods | 10 Years 1 Months |
| ECB | C5H Services | 3.00 | Local Sourcing of Capital Goods (Rupee Expenditure) | 7 Years 9 Months |
| ECB | Varanam Gourmet | 0.35 | Working Capital/General Corporate Purpose | 8 Years 11 Months |
| ECB | RV Lifesciences | 1.40 | Overseas Investments in JV/ WOS | 5 Years 8 Months |
| ECB | 31 parallel IT & BPO Solutions | 0.20 | Working Capital/General Corporate Purpose | 15 Years |
| ECB | Footsteps of Buddha Hotels | 3.00 | Refinancing of Rupee Loans | 5 Years |
| ECB | Godrej Finance | 30.00 | On-Lending or Sub-Lending | 3 Years |
| ECB | BTI Electronics | 0.10 | Working Capital/General Corporate Purpose | 5 Years |
| ECB | Haygrove India | 0.34 | Working Capital/General Corporate Purpose | 5 Years 1 Months |
| ECB | Trends Euro India . | 0.50 | Working Capital/General Corporate Purpose | 15 Years |
| ECB | SMFG India Credit Company | 75.00 | On-Lending or Sub-Lending | 3 Years |
| ECB | Oiles India | 15.28 | New Project | 7 Years 7 Months |
| ECB | Mithros Chemicals | 0.29 | Modernisation | 5 Years 1 Months |
| ECB | Asti India | 6.77 | Import of Capital Goods | 9 Years 11 Months |
| FCCB | Spice Lounge Food Works | 5.00 | Overseas Investments in JV/ WOS | 6 Years 1 Months |
| ECB | HPCL-Mittal Energy | 150.00 | Refinancing of Earlier ECB | 4 Years 9 Months |
| ECB | HPCL-Mittal Energy | 150.00 | Refinancing of Earlier ECB | 4 Years 11 Months |
| ECB | Faulhaber Drive Systems India | 0.12 | Working Capital/General Corporate Purpose | 5 Years 7 Months |
| ECB | KLA-Tencor Software India | 35.00 | New Project | 4 Years 11 Months |
| ECB | IDGSI | 0.22 | Working Capital/General Corporate Purpose | 5 Years |
| ECB | Siemens Financial Services | 17.14 | On-Lending or Sub-Lending | 5 Years |
| ECB | Getzner India | 1.68 | New Project | 1 Years 7 Months |
| ECB | Akara Capital Advisors | 0.52 | On-Lending or Sub-Lending | 3 Years |
| ECB | Akara Capital Advisors | 0.30 | On-Lending or Sub-Lending | 3 Years |
| ECB | Topre India . | 2.71 | Import of Capital Goods | 7 Years 10 Months |
| ECB | ISTEC Manufacturing | 0.17 | Local Sourcing of Capital Goods (Rupee Expenditure) | 3 Years |
| ECB | Maag Gear India | 0.17 | Working Capital/General Corporate Purpose | 5 Years 4 Months |
| ECB | Vasta Lifestyle | 0.45 | New Project | 7 Years 11 Months |
| ECB | Lorenz snacks India | 0.58 | Working Capital/General Corporate Purpose | 5 Years |
| ECB | Stemztech Industries | 0.15 | Local Sourcing of Capital Goods (Rupee Expenditure) | 3 Years |
| ECB | PSD Aero India | 3.49 | Local Sourcing of Capital Goods (Rupee Expenditure) | 5 Years 2 Months |
| ECB | Wohr Parking Systems | 1.84 | New Project | 4 Years 10 Months |
| ECB | Viavi Solutions India | 4.42 | Working Capital/General Corporate Purpose | 5 Years |
| ECB | AB Mauri India | 4.82 | Refinancing of Earlier ECB | 3 Years |
| ECB | Scarlet Restaurant | 0.10 | Working Capital/General Corporate Purpose | 5 Years 1 Months |
| ECB | Asti Electronics India . | 2.71 | Modernisation | 9 Years 11 Months |
| ECB | AYE Finance | 15.00 | On-Lending or Sub-Lending | 3 Years |
| ECB | Lloyds Metals And Energy | 32.00 | New Project | 2 Years |
| ECB | Mercedes-Benz Financial Services India . | 91.41 | On-Lending or Sub-Lending | 3 Years 5 Months |
| ECB | Amapai Corporation India | 0.68 | Import of Capital Goods | 7 Years 9 Months |
| ECB | Serigrafia 76 India | 0.14 | Import of Capital Goods | 5 Years 4 Months |
| ECB | Turtle Shell Technologies | 10.00 | Overseas Investments in JV/ WOS | 10 Years 3 Months |
| ECB | Raviwo Aerticket Alliance India | 3.26 | Working Capital/General Corporate Purpose | 6 Years 5 Months |
| ECB | Cosette Pharmaceuticals India | 0.25 | Working Capital/General Corporate Purpose | 5 Years |
| ECB | Kemira Chemicals (India) | 0.70 | Working Capital/General Corporate Purpose | 5 Years |
| ECB | Mozano Advisory | 16.50 | Working Capital/General Corporate Purpose | 12 Years |
| ECB | Tantrayut Telecommunications | 1.77 | Modernisation | 7 Years 4 Months |
| ECB | Nishi Shoji (India) | 0.06 | Working Capital/General Corporate Purpose | 5 Years |
| ECB | SFD India | 0.69 | Working Capital/General Corporate Purpose | 5 Years |
| ECB | Hakki Fleet Management | 1.35 | Working Capital/General Corporate Purpose | 5 Years |
| ECB | Shubham Housing Development Finance Company | 24.00 | On-Lending or Sub-Lending | 5 Years |
| ECB | Scan Global Logistics (IN) | 5.00 | Working Capital/General Corporate Purpose | 6 Years 4 Months |
| ECB | Interglobe Aviation | 102.00 | Import of Capital Goods | 10 Years 3 Months |
| ECB | Aishin India | 0.57 | Working Capital/General Corporate Purpose | 5 Years 10 Months |
| ECB | Sammaan Capital | 300.00 | On-Lending or Sub-Lending | 3 Years |
| ECB | Salvagnini Machinery India | 2.33 | Working Capital/General Corporate Purpose | 6 Years 10 Months |
| ECB | Akzo Nobel Powder Coatings India | 6.86 | Working Capital/General Corporate Purpose | 5 Years |
| ECB | Spice Lounge Food Works | 5.00 | Overseas Investments in JV/ WOS | 6 Years |
| ECB | Sentec Mechatronics | 0.06 | Working Capital/General Corporate Purpose | 6 Years 10 Months |
| ECB | Starion India . | 7.00 | Working Capital/General Corporate Purpose | 12 Years 5 Months |
| ECB | Houzeo India | 0.72 | Modernisation | 7 Years 1 Months |
| ECB | Deccan Fine Chemicals (India) | 32.75 | Refinancing of Earlier ECB | 2 Years 11 Months |
| ECB | Saimaa Solar | 94.84 | Infrastructure Development | 51 Years |
| ECB | Veeglow Industries | 0.70 | Import of Capital Goods | 12 Years |
| ECB | Bosswallah Technologies | 0.20 | Working Capital/General Corporate Purpose | 5 Years |
| ECB | Torrecid India | 4.57 | Modernisation | 2 Years 4 Months |
| ECB | Interglobe Aviation | 213.20 | Import of Capital Goods | 10 Years |
| ECB | Tdconnex (Chennai) | 6.68 | Working Capital/General Corporate Purpose | 5 Years 8 Months |
| ECB | Quick Smart Wash | 7.96 | Modernisation | 5 Years 3 Months |
| ECB | CSY Fisheries | 2.00 | Working Capital/General Corporate Purpose | 12 Years 11 Months |
| ECB | Startup Factory Services India | 0.64 | New Project | 5 Years 1 Months |
| ECB | Hansa-Flex Business Services | 0.35 | Local Sourcing of Capital Goods (Rupee Expenditure) | 4 Years 3 Months |
| ECB | Mcdonald's Capability Center India | 16.00 | Local Sourcing of Capital Goods (Rupee Expenditure) | 8 Years 1 Months |
| ECB | Aditya Birla Capital | 250.00 | On-Lending or Sub-Lending | 3 Years 4 Months |
| ECB | Yaclass Tech | 0.70 | Working Capital/General Corporate Purpose | 5 Years 4 Months |
| ECB | Akagane India | 0.17 | Working Capital/General Corporate Purpose | 10 Years |
| ECB | Invitro Research Solutions | 0.20 | Working Capital/General Corporate Purpose | 5 Years |
| ECB | Treasure Harvest Shipping | 25.79 | Working Capital/General Corporate Purpose | 7 Years 1 Months |
| ECB | Amgen Technology | 24.57 | Local Sourcing of Capital Goods (Rupee Expenditure) | 5 Years |
| ECB | IDE2RE India | 0.50 | Working Capital/General Corporate Purpose | 5 Years 11 Months |
| ECB | Tong Garden Food Products (India) | 1.00 | Working Capital/General Corporate Purpose | 6 Years 4 Months |
| ECB | Vena Energy Solar Ravi India Power Resources | 5.14 | New Project | 9 Years 4 Months |
| 2,217.31 | ||||
| II APPROVAL ROUTE* | ||||
| ECB | Muthoot Finance | 600.00 | On-Lending or Sub-Lending | 3 Years |
| ECB | REC | 450.00 | On-Lending or Sub-Lending | 5 Years 2 Months |
| Approval Route Total(II) | 1,050.00 | |||
| Grand Total (I+II) | 3,267.31 | |||
End
US$1 = INR 88.7975
Reported by Akshat Saksena
Compiled by Mansi Patil
Edited by Rajeev Pai
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