Mumbai: Indian companies raised USD 2.6 billion from overseas markets in February, marginally lower than USD 2.7 billion mopped up in January.
According to the RBI data released on Monday, Indian entities raised over USD 2.6 billion through external commercial borrowings and foreign currency convertible bonds (FCCBs).
FCCB is a type of convertible bond issued in a currency different than the issuer's domestic currency.
In February, Reliance Communications, several of Vodafone group companies, Orchid Chemicals & Pharmaceuticals, Larsen & Toubro and Panama Wind Energy were among the major companies that raised money from overseas market.
Under the approval route, Reliance Communications raised USD 925.2 million for redemption of FCCBs, Vodafone South raised USD 175 million, Vodafone Spacetel raised USD 150 million, Vodafone Essar Cellular raised USD 125 million and Vodafone Digilink raised USD 125 million.
While Orchid Chemicals & Pharmaceuticals raised USD 96.5 million, Panama Wind Energy USD 89.3 million and Larsen & Toubro raised USD 71.5 million through automatic route.