1. CHENNAI
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
Mylapore,
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821
External Commercial
BANGALORE
Suite 920, Level 9,
Raheja Towers,
26-27, M G Road,
Bangalore - 560 001.
Borrowing
Tel: +91 - 80 - 6546 2400
COIMBATORE
BB1, Park Avenue,
# 48, Race Course Road,
Coimbatore - 641018.
Tel: +91 - 422 – 6552921
EMAIL
Divya Raman
info@altacit.com
Corporate Department
WEBSITE
www.altacit.com Altacit Global

2. CHENNAI
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
Mylapore,
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821
BANGALORE
Suite 920, Level 9,
Raheja Towers,
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
BB1, Park Avenue,
# 48, Race Course Road,
Coimbatore - 641018.
Tel: +91 - 422 – 6552921
EMAIL
info@altacit.com
WEBSITE
www.altacit.com

3. INTRODUCTION
CHENNAI
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
• An instrument used in India to facilitate
Mylapore,
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821 the access to foreign money by Indian
corporations and PSUs (public sector
BANGALORE
Suite 920, Level 9,
Raheja Towers,
undertakings).
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
BB1, Park Avenue,
# 48, Race Course Road,
Coimbatore - 641018.
• The DEA (Department of Economic
Affairs), Ministry of Finance,
Tel: +91 - 422 – 6552921
Government of India along with Reserve
Bank of India, monitors and regulates
EMAIL
info@altacit.com
ECB guidelines and policies.
WEBSITE
www.altacit.com

4. EXAMPLES OF ECB
CHENNAI
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
• Commercial bank loans.
Mylapore,
• Buyers' credit.
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821
BANGALORE
• Suppliers' credit.
Suite 920, Level 9,
Raheja Towers,
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
BB1, Park Avenue,
• Securitized instruments such as floating
rate notes and fixed rate bonds.
# 48, Race Course Road,
Coimbatore - 641018.
Tel: +91 - 422 – 6552921
• Credit from official export credit
agencies.
EMAIL
info@altacit.com
WEBSITE
www.altacit.com

5. ROUTES
CHENNAI
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
Mylapore,
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821
BANGALORE
• Automatic Route
Suite 920, Level 9,
Raheja Towers,
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
BB1, Park Avenue,
• Approved Route
# 48, Race Course Road,
Coimbatore - 641018.
Tel: +91 - 422 – 6552921
EMAIL
info@altacit.com
WEBSITE
www.altacit.com

6. AUTOMATIC ROUTE
CHENNAI
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
• Eligible Borrowers:
Mylapore,
2.Corporates (registered under the
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821
BANGALORE
Suite 920, Level 9,
Raheja Towers,
26-27, M G Road,
companies Act except financial
intermediaries (such as banks, financial
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
BB1, Park Avenue,
# 48, Race Course Road,
Coimbatore - 641018.
institutions (FIs), housing finance
companies and NBFCs) are eligible to
Tel: +91 - 422 – 6552921
raise ECB. Individuals, Trusts and Non-
Profit making Organizations are not
EMAIL
info@altacit.com
eligible to raise ECB.
WEBSITE
www.altacit.com

7. AUTOMATIC ROUTE contd…
CHENNAI
1. Units in Special Economic Zones (SEZ)
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
Mylapore,
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821 are allowed to raise ECB for their own
requirement. However, they cannot
BANGALORE
Suite 920, Level 9,
Raheja Towers,
transfer or on-lend ECB funds to sister
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
BB1, Park Avenue,
# 48, Race Course Road,
concerns or any unit in the Domestic
Tariff Area.
Coimbatore - 641018.
Tel: +91 - 422 – 6552921
• Recognized Lenders:
3. International Banks
4. International Capital Markets
EMAIL
info@altacit.com
WEBSITE
www.altacit.com

8. AUTOMATIC ROUTE contd…
CHENNAI
3. Multilateral Financial Institutions
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
Mylapore,
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821 (such as IFC, ADB, CDC, etc.,)
BANGALORE
Suite 920, Level 9,
Raheja Towers,
26-27, M G Road,
2. Export Credit Agencies
Bangalore - 560 001.
3. Suppliers of equipment.
Tel: +91 - 80 - 6546 2400
COIMBATORE
BB1, Park Avenue,
4. Foreign Collaborators.
# 48, Race Course Road,
Coimbatore - 641018.
Tel: +91 - 422 – 6552921
5. Foreign Equity Holders (other than
erstwhile OCBs).
EMAIL
info@altacit.com
WEBSITE
www.altacit.com

9. AUTOMATIC ROUTE contd…
CHENNAI
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
• Amount and Maturity:
Mylapore,
2. The maximum amount of ECB which can
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821
be raised by a corporate is USD 500
BANGALORE
Suite 920, Level 9,
Raheja Towers,
million or equivalent during a financial
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
BB1, Park Avenue,
# 48, Race Course Road,
year.
Coimbatore - 641018.
Tel: +91 - 422 – 6552921
3. ECB up to USD 20 million or equivalent in
a financial year with minimum average
maturity of three years.
EMAIL
info@altacit.com
WEBSITE
www.altacit.com

10. AUTOMATIC ROUTE contd…
CHENNAI
3. ECB above USD 20 million and upto
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
Mylapore,
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821 USD 500 million or equivalent with a
minimum average maturity average
BANGALORE
Suite 920, Level 9,
Raheja Towers,
maturity of five years.
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
BB1, Park Avenue,
# 48, Race Course Road,
Coimbatore - 641018.
4. ECB upto USD 20 million can have call /
put option provided the minimum
Tel: +91 - 422 – 6552921
average maturity of three years is
complied with before exercising call /
EMAIL
info@altacit.com
put option.
WEBSITE
www.altacit.com

11. APPROVAL ROUTE
CHENNAI
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
• Eligible Borrowers
Mylapore,
2.Financial institutions dealing
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821
BANGALORE
Suite 920, Level 9,
Raheja Towers,
26-27, M G Road,
exclusively with infrastructure or
export finance such as IDFC, IL&FS.
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
3.Banks and financial institutions which
BB1, Park Avenue,
# 48, Race Course Road,
Coimbatore - 641018.
Tel: +91 - 422 – 6552921
had participated in the textile or steel
sector restructuring package as
approved by the Government.
EMAIL
info@altacit.com
WEBSITE
www.altacit.com

12. CHENNAI
3. ECB with minimum average maturity
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
Mylapore,
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821 of 5 years by Non-Banking Financial
Companies (NBFCs).
BANGALORE
Suite 920, Level 9,
Raheja Towers,
26-27, M G Road,
4. Foreign Currency Convertible Bonds
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
BB1, Park Avenue,
# 48, Race Course Road,
Coimbatore - 641018.
(FCCBs) by housing fnance companies.
Tel: +91 - 422 – 6552921
5. Special Purpose Vehicles, or any other
entity notified by the Reserve Bank.
6. Multi-State Co-operate Societies
engaged in manufacturing activity.
EMAIL
info@altacit.com
WEBSITE
www.altacit.com

13. CHENNAI
7.Corporates engaged in industrial sector
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
Mylapore,
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821 and infrastructure sector .
BANGALORE
Suite 920, Level 9,
Raheja Towers,
26-27, M G Road,
8. Non-Government Organizations
(NGOs) engaged in micro finance
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
BB1, Park Avenue,
# 48, Race Course Road,
Coimbatore - 641018.
activities.
Tel: +91 - 422 – 6552921
9. Corporate in services sector viz. hotels,
hospitals and software companies.
10. Cases falling outside the purview of
the automatic route limits.
EMAIL
info@altacit.com
WEBSITE
www.altacit.com

14. CHENNAI
Amount and Maturity
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
Mylapore,
1. Corporates can avail of ECB of an
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821
BANGALORE
Suite 920, Level 9,
Raheja Towers,
26-27, M G Road,
additional amount of USD 250 million
with average maturity of more than 10
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
BB1, Park Avenue,
# 48, Race Course Road,
Coimbatore - 641018.
years under the approval route, over
and above the existing limit of USD 500
Tel: +91 - 422 – 6552921
million under the automatic route,
during a financial year.
EMAIL
info@altacit.com
WEBSITE
www.altacit.com

15. CHENNAI
2. Corporates in infrastructure sector {as
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
Mylapore,
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821 defined in paragraph 1(A) (v) (a)} can avail
ECB up to USD 100 million and Corporates
BANGALORE
Suite 920, Level 9,
Raheja Towers,
in industrial sector can avail ECB up to
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
BB1, Park Avenue,
# 48, Race Course Road,
USD 50 million for Rupee capital
expenditure for permissible end- uses
Coimbatore - 641018.
Tel: +91 - 422 – 6552921
within the overall limit of USD 500 million
per borrower, per financial year, under
EMAIL
Automatic Route.
info@altacit.com
WEBSITE
www.altacit.com

16. CHENNAI
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
3. NGOs engaged in micro finance activities can
raise ECB up to USD 5 million during a
Mylapore,
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821
BANGALORE
Suite 920, Level 9,
financial year. Designated AD bank has to
ensure that at the time of drawdown the
Raheja Towers,
26-27, M G Road,
Bangalore - 560 001.
forex exposure of the borrower is hedged.
Tel: +91 - 80 - 6546 2400
COIMBATORE
BB1, Park Avenue,
# 48, Race Course Road,
Coimbatore - 641018.
Tel: +91 - 422 – 6552921
4. Corporates in the services sector viz. hotels,
hospitals and software companies can avail
ECB up to USD 100 million, per borrower, per
financial year, for import of capital goods.
EMAIL
info@altacit.com
WEBSITE
www.altacit.com

17. CONVERSION OF ECB INTO EQUITY
CHENNAI
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
• Conditions
Mylapore,
2. The activity of the company is covered under
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821
the Automatic Route for Foreign Direct
BANGALORE
Suite 920, Level 9,
Raheja Towers,
investment or Government approval for
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
BB1, Park Avenue,
foreign equity participation has been
obtained by the company.
# 48, Race Course Road,
Coimbatore - 641018.
Tel: +91 - 422 – 6552921
3. The foreign equity holding after such
conversion of debt into equity is within the
sectoral cap, if any.
EMAIL
info@altacit.com
WEBSITE
www.altacit.com

18. CHENNAI
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
Mylapore,
Chennai - 600 004.
3. Pricing of shares is as per SEBI
Tel: +91 - 44 - 2498 4821
BANGALORE
Suite 920, Level 9,
Raheja Towers,
and erstwhile CCI guidelines /
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
regulations in the case listed /
COIMBATORE
BB1, Park Avenue,
# 48, Race Course Road,
Coimbatore - 641018.
unlisted companies as the case
Tel: +91 - 422 – 6552921
may be.
EMAIL
info@altacit.com
WEBSITE
www.altacit.com

19. CHENNAI
The Reserve Bank of India (RBI) has
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
Mylapore,
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821 authorized Category-I authorized dealer
banks to allow relaxations in the
BANGALORE
Suite 920, Level 9,
Raheja Towers,
drawdown and repayment schedule of
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
BB1, Park Avenue,
# 48, Race Course Road,
external commercial borrowings.
Coimbatore - 641018.
ADs are also authorized to extend foreign
Tel: +91 - 422 – 6552921
currency loans to other authorized
dealers in India subject to the directions
EMAIL
info@altacit.com
or guidelines issued by the RBI from time
WEBSITE
www.altacit.com
to time.

20. CHENNAI
3rd Floor, ‘Creative Enclave’,
148-150, Luz Church Road,
Mylapore,
Chennai - 600 004.
Tel: +91 - 44 - 2498 4821
BANGALORE
Suite 920, Level 9,
Raheja Towers,
26-27, M G Road,
Bangalore - 560 001.
Tel: +91 - 80 - 6546 2400
COIMBATORE
BB1, Park Avenue,
# 48, Race Course Road,
Coimbatore - 641018.
Tel: +91 - 422 – 6552921
EMAIL
info@altacit.com
WEBSITE
www.altacit.com