exceeding $32
billion by October, surpassing the total for 2023. Non-bank finance companies
led the charge, borrowing over $16 billion, primarily for on-lending. High US
interest rates didn't deter borrowing, with many companies prioritizing access to
larger loan sizes and managing rupee exposure.
Indian companies have raised more money through overseas borrowings till
October this year than in the entire 2023. Fundraising through foreign currency
loans and bonds exceeded $32 billion by October compared with $25 billion last
year, according to an ET analysis of the latest Reserve Bank of India (RBI) data
on external commercial borrowings.
The 2024 fundraise amount is the highest
since the pre-pandemic 2019.
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