National carrier Air India is likely to tie up with Citibank and public sector lender State Bank of India to raise USD 300 million from overseas market via External Commercial Borrowing (ECB) route, sources said.
Yes Bank Ltd, India`s fifth-biggest private sector lender by assets, said on Wednesday its board approved a plan to raise up to $1 billion by selling stock in local or overseas markets to shore up its capital base.
Overseas investors have poured in a staggering Rs 19,772 crore (USD 3.35 billion) into the Indian debt market in May, the highest monthly inflow in about two and a half years, emboldened by hopes of economic recovery after Narendra-Modi led BJP stormed to power at the Centre.
Gold prices fell further by Rs 66 to Rs 26,635 per 10 gram in futures trade Tuesday as market participants offloaded their positions largely in tandem with a weak trend overseas where precious metal dropped to a four-week low.
Indian companies raised USD 4.56 billion from the overseas market in December, twice as much as they did in the previous month, through external commercial borrowings and foreign currency convertible bonds.