Indian cos raise $1.61 bn debt overseas in August

Indian companies raised $1.61 bln through external commercial borrowings in August, lower than $2.15 bln in July, Reserve Bank of India data showed.

During August, Indian companies raised $1.57 bln through the automatic route, and $35.93 mln through the approval route.

SB Energy Six Pvt Ltd was the largest borrower, raising $266.40 mln through the automatic route, followed by Reliance Sibur Elastomers Pvt Ltd with $209.42 mln, the central bank data showed.

In August, Suzlon Energy Ltd borrowed $35.93 mln through the approval route.

The information, part of the monthly release on external commercial borrowing data, was released by the RBI.

In August, eight Indian companies raised a total of 10.88 bln rupees through Masala bonds, or rupee-denominated bonds issued overseas, data on the Reserve Bank of India's website showed.