Tata Steel and Anil Ambani-led& Reliance Communications raised $1.375 billion through overseas borrowings and convertible bonds in September, according to data released by the Reserve Bank of India.
Tata Steel, which early this year acquired Anglo-Dutch firm Corus to become the sixth-largest maker of the alloy, raised $875 million for overseas acquisition through foreign currency convertible bonds.
While $500 million were raised through the automatic route, the balance was mobilised after approval from the government.
Mobile player RCoM raised $500 million through external commercial borrowings to refinance existing debt. Mukesh Ambani-run Reliance Petroleum borrowed $275 million from overseas market during the month, RBI said.
A total of 29 Indian companies raised funds through ECB and
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