TK Ananth Kumar, Director (Finance) of Oil India informed that the firm would borrow from the overseas market to fund its acquisition of the Mozambique gas project.
He said the firm is considering to raise 80 per cent to 90 per cent of its share of $1 billion (in the acquisition).
In other words, the firm may raise a maximum of $900 million from overseas markets.
Kumar feels that the depreciation of Indian rupee against the dollar would have only marginal impact on its finances.
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