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Corporates' ECB plan
MUMBAI,
DEC. 30.
The Reserve Bank of India today said that 83 corporate bodies, including Larsen & Toubro, have applied for external commercial borrowings/foreign currency convertible bonds in November under the automatic route for various business purposes such as modernisation, import of capital goods and refinancing old loans.
Some of the prominent corporates, which have opted to raise funds abroad, are: L&T ($150 million), Hindalco Industries and Jindal Steel and Power ($50 million each) and Cadila Healthcare ($10 million).
— PTI
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