<p>The mood back home may not be buoyant, but that does not seem to deter India Inc from looking at business opportunities overseas, given that three companies raised $89 million through Euro Convertible Bonds (ECBs) in February 2013 to fund overseas acquisition.<br /><br /></p>.<p>According to data released by the Reserve Bank of India (RBI) on Tuesday, Gujarat government owned Gujarat State Fertilizers & Chemicals raised $45 million ($20 million for a tenor of 4 years and $25 million for 6.1 years); Jain Irrigation Systems raised $24 million for tenors ranging from 5 to 9.4 years and jewellery firm Shrenuj and Company raised $20 million for a tenor of 6.5 years, all for overseas acquisition. <br /><br />The overall money raised during the month was $2.34 billion, including $1.08 billion under the automatic route. Some of the other major fund raisers included Gitanjali Gems ($200 million), IDFC ($100 million) and NTPC ($250 million). <br /><br />Companies that raised using the approval route included Reliance Industries ($800 million), Power Finance Corporation ($250 million) and Amtek Auto ($125 million).</p>
<p>The mood back home may not be buoyant, but that does not seem to deter India Inc from looking at business opportunities overseas, given that three companies raised $89 million through Euro Convertible Bonds (ECBs) in February 2013 to fund overseas acquisition.<br /><br /></p>.<p>According to data released by the Reserve Bank of India (RBI) on Tuesday, Gujarat government owned Gujarat State Fertilizers & Chemicals raised $45 million ($20 million for a tenor of 4 years and $25 million for 6.1 years); Jain Irrigation Systems raised $24 million for tenors ranging from 5 to 9.4 years and jewellery firm Shrenuj and Company raised $20 million for a tenor of 6.5 years, all for overseas acquisition. <br /><br />The overall money raised during the month was $2.34 billion, including $1.08 billion under the automatic route. Some of the other major fund raisers included Gitanjali Gems ($200 million), IDFC ($100 million) and NTPC ($250 million). <br /><br />Companies that raised using the approval route included Reliance Industries ($800 million), Power Finance Corporation ($250 million) and Amtek Auto ($125 million).</p>
