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Power, telecom cos raise foreign funds

Power, telecom cos raise foreign funds

The Centre had approved companies' fund raising worth Rs 60,950 crore through ext­ernal commercial borrowing (ECB) or foreign currency c­o­nvertible bonds (FCCB) for in­frastructure projects in the last two financial years. Companies in the telecom sector raised the most funds at about Rs 37,700 crore, which constitutes for 61 per cent of the total money approved, followed by the po­wer sector at Rs 17,100 crore in the last two financial years, according to government data.

Among the top telecom co­mpanies, Vodafone Essar and its subsidiaries raised the highest, Rs 6,795 crore. Reliance Communications raised Rs 5,985 crore and Infotel Broadband (bought over by Reliance Industries), Rs 4,500 crore. In the power sector, the top companies include Rural Electrification Corporation (REC) at Rs 4,050 crore, Sasan Power at Rs 2,187 crore and NTPC at Rs 1,350 crore.

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