Indian cos invest USD 2.31 billion overseas in November

Overseas direct investment by Indian companies rose by 13.6 per cent over the previous month to USD 2.31 billion in November, data from the Reserve Bank showed. Indian companies had invested USD 2.03 billion in October. A total of 430 deals were carried out by the Indian companies in November to carry out the outward foreign direct investment during the month, the RBI data showed.

Also Read: Indian cos raised USD 4.29 bn from overseas markets in Oct

Infosys Ltd , Videocon Oil Ventures, REI Agri and Bharti Airtel were among the major investors in terms of outward FDI. Infosys Ltd invested USD 207.14 million in its wholly owned subsidiary Lodestone Holding AG in Switzerland which is engaged in financial, insurance and real estate services. Videocon Oil Ventures invested USD 127 million in its wholly owned subsidiary Videocon Hydrocarbons Holdings in Cayman Islands. The company is into agriculture and mining business.

REI Agri invested USD 95.19 million in its wholly owned unit based in United Arab Emirates which is into manufacturing business. Bharti Airtel invested USD 80 million in its wholly owned unit Bharti Airtel International (Mauritius) which is engaged in transport, storage and communication services.

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