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

Indian firms, including non-banking financial companies, have filed an intent in May 2024 with the Reserve Bank of India (RBI) to raise $4.28 billio­n through External Commercial Borrowings (ECBs). Out of this, the intent for fund raise through the automatic route amounted to $ 3.66 billion and that via approval route was $ 343.2 million, according to RBI data. Amongst the prominent firms which have filed intent in May with RBI include Adani Green Energy Twenty Five for $300 million, Gold loan firm Manappuram Finance for $ 350 million, and Mahindra & Mahindra Financial Services for $ 200 million, RBI data showed.