India Inc. files ECB intention worth $4.28 billion in May, RBI data shows

Indian companies, including non-banking financial companies, filed an intention with the Reserve Bank of India (RBI) in May 2024 to raise $4.28 billion through External Commercial Borrowings (ECBs). Of this, the intention to raise funds through the automatic route was $3.66 billion and that through the approval route was $343.2 million, according to RBI data.

RBI data shows that prominent companies that submitted loan applications to the RBI in May included Adani Green Energy Twenty Five for $300 million, gold lender Manappuram Finance for $350 million and Mahindra & Mahindra Financial Services for $200 million.