IFR India CM Roundtable 2010: Tables

IFR India Roundtable 2010

28 min read

Q3 ECM breakdown
	1/1/2010–30/9/2010		1/1/2009–30/9/2009		Change
	Deals	US$m	Deals	US$m	Deals	US$ amount	% amount
Follow-on	52	12,221.70	51	10,635.30	1	1,586.40	15
IPO	35	2,977.30	10	2,599.60	25	377.7	15
Convertible	6	511.1	3	13,978.80	29	–232.8	–31
Industry total	93	15,710.10	64	13,978.80	29	1,731.30	12

India IPOs – Jan to Sep 2010
	1/1/2010–30/9/2010				1/1/2009–30/9/2009
	Proceeds		Mkt share	No of		Mkt share	Change in
Bookrunner	US$m	Rank	%	deals	Rank	%	mkt share
Kotak Mahindra Bank	646.8	1	21.7	11	1	19.8	1.9
Enam Securities	430.7	2	14.5	9	3	19.1	—
State Bank of India	239.1	3	8	7	1	19.8	–11.8
Morgan Stanley	205.5	4	6.9	4	4	8.6	—
JM Financial	169.1	5	5.7	4	4	8.6	—
Infrastructure Dev Fin	167.1	6	5.6	4	8	3.1	—
Credit Suisse	119.4	7	4	1	—	—	—
Citigroup	119.4	8	4	1	7	5.5	—
IDBI Bank	107	9	3.6	3	—	—	—
ICICI Bank	106.3	10	3.6	3	8	3.1	—
Industry total	2,977.30		100	35		100	—

India Equity and Equity-related. 1/1/2010 – 25/10/2010
		Proceeds	Mkt.	No of
	Bookrunner	(US$m)	share (%)	issues
1	Citigroup	2,636.40	14.6	14
2	Kotak Mahindra Bank	2,031.70	11.2	24
3	UBS	1,530.90	8.5	10
4	Enam Securities	1,467.50	8.1	21
5	ICICI Bank	1,144.90	6.3	12
6	Morgan Stanley	1,078.50	6	13
7	JP Morgan	861.2	4.8	6
8	BofA Merrill Lynch	769.4	4.3	9
9	Infrastructure Dev Finance	754.9	4.2	15
10	Credit Suisse	666	3.7	5
11	RBS	652.4	3.6	7
12	State Bank of India	597.1	3.3	13
13	Edelweiss Capital	591.9	3.3	13
14	JM Financial Group	585.2	3.2	11
15	Standard Chartered	275	1.5	2
	Industry total	18,106.10	100	119

India Equity and Equity-related. 1/1/2009 — 31/12/2009
		Proceeds	Mkt.	No of
	Bookrunner	(US$m)	share (%)	issues
1	Morgan Stanley	3,232.90	15.8	15
2	Citigroup	3,149.70	15.4	28
3	JP Morgan	2,503.50	12.3	15
4	Deutsche Bank	1,517.40	7.4	11
5	Kotak Mahindra Bank	985.2	4.8	16
6	BofA Merrill Lynch	976.6	4.8	8
7	UBS	818.8	4	9
8	Goldman Sachs	807.8	4	6
9	Enam Securities	798.7	3.9	11
10	State Bank of India	694.2	3.4	7
11	Infrastructure Dev Finance	629.8	3.1	11
12	Credit Suisse	508.7	2.5	6
13	CLSA	480.4	2.4	6
14	JM Financial Group	364.5	1.8	6
15	Nomura	319.2	1.6	4
	Industry total	20,428.90	100	105

India Equity and Equity-related. 1/1/2008 — 31/12/2008
		Proceeds	Mkt.	No of
	Bookrunner	(US$m)	share (%)	issues
1	Deutsche Bank	827.5	11.5	4
2	RBS	680	9.5	3
3	Kotak Mahindra Bank	649.1	9.1	8
3	ICICI Bank	649.1	9.1	5
5	JM Financial Group	407.2	5.7	4
6	State Bank of India	394.2	5.5	3
7	JP Morgan	356.4	5	2
8	UBS	350.5	4.9	2
8	Enam Securities	350.5	4.9	2
10	Citigroup	332.8	4.6	2
11	BofA Merrill Lynch	207.8	2.9	1
12	Silverdale Services	194.5	2.7	4
13	Indiainfoline	161.3	2.3	2
14	IL & FS Merchant Banking Svcs	150	2.1	2
15	Motilal Oswal Financial Svcs	138.2	1.9	5
	Industry total	7,170.20	100	59

Asia (ex-Australia) ECM. 1/1/2010 – 25/10/2010
		Proceeds	Mkt.	No of
	Bookrunner	(US$m)	share (%)	issues
1	Goldman Sachs	16,460.50	7.5	44
2	UBS	14,079.70	6.4	54
3	Morgan Stanley	13,439.80	6.1	62
4	China Intl Capital	11,471.40	5.2	16
5	JP Morgan	10,949.40	5	50
6	Credit Suisse	10,272.10	4.7	48
7	Citigroup	8,407.20	3.8	43
8	CITIC	6,987.70	3.2	22
9	Deutsche Bank	6,585.50	3	33
10	Bank of China	5,553.90	2.5	24
11	BofA Merrill Lynch	5,233.90	2.4	36
12	Guotai Junan Securities	5,132.10	2.3	13
13	Haitong Securities	4,548.60	2.1	14
14	Guosen Securities Co	4,501.60	2	26
15	Pingan Securities Co	4,324.00	2	36
	Industry total	221,038.50	100	1,364

Asia (ex-Australia) ECM. 1/1/2009 — 31/12/2009
		Proceeds	Mkt.	No of
	Bookrunner	(US$m)	share (%)	issues
1	UBS	16,241.80	9.8	62
2	Morgan Stanley	14,367.70	8.7	63
3	China Intl Capital	13,345.90	8.1	13
4	Goldman Sachs	10,926.60	6.6	33
5	JP Morgan	10,428.50	6.3	53
6	Credit Suisse	9,506.20	5.7	56
7	Citigroup	7,864.90	4.8	63
8	BofA Merrill Lynch	6,776.80	4.1	32
9	CITIC	6,068.70	3.7	12
10	Deutsche Bank	5,579.90	3.4	39
11	Macquarie Group	3,306.90	2	2
12	Bank of China	2,780.80	1.7	20
13	DBS Group	2,754.40	1.7	21
14	RBS	2,356.50	1.4	11
15	China Securities	2,063.70	1.3	6
	Industry total	165,644.00	100	1,205

Asia (ex-Australia) ECM. 1/1/2008 — 31/12/2008
		Proceeds	Mkt.	No of
	Bookrunner	(US$m)	share (%)	issues
1	CITIC	7,377.30	9.4	8
2	China Intl Capital	6,416.60	8.1	7
3	UBS	4,994.50	6.3	24
4	Goldman Sachs & Co	4,518.60	5.7	16
5	Citigroup	4,004.60	5.1	16
6	Morgan Stanley	3,858.80	4.9	23
7	Credit Suisse	3,799.70	4.8	20
8	Danatama Makmur	3,123.90	4	3
9	JP Morgan	2,802.90	3.6	14
10	BofA Merrill Lynch	2,664.00	3.4	17
11	China Galaxy Securities	2,315.00	2.9	3
12	Deutsche Bank	2,302.80	2.9	16
13	Pingan Securities	1,955.40	2.5	9
14	Macquarie Group	1,670.50	2.1	7
15	Essence Securities	1,621.90	2.1	3
	Industry total	78,869.80	100	566

India Syndicated Loans. 1/1/2010 – 25/10/2010
		Proceeds	Mkt.	No of
	Bookrunner	(US$m)	share (%)	issues
1	State Bank of India	31,407.50	49.4	63
2	IDBI Bank	10,288.10	16.2	20
3	Axis Bank	7,000.50	11	29
4	Infrastructure Dev Finance	4,774.30	7.5	11
5	ICICI Bank	3,680.70	5.8	7
6	RBS	961.8	1.5	5
7	Yes Bank	902.8	1.4	9
8	Standard Chartered	559.4	0.9	6
9	Bajaj Consultants Pvt	503.5	0.8	2
10	Mitsubishi UFJ Financial	343.9	0.5	4
11	Deutsche Bank	292.6	0.5	2
12	Citigroup	291.4	0.5	2
13	Credit Agricole CIB	240.6	0.4	5
14	JP Morgan	220	0.4	1
15	HSBC	217.3	0.3	4
	Industry total	63,558.40	100	155

India Syndicated Loans. 1/1/2009 — 31/12/2009
		Proceeds	Mkt.	No of
	Bookrunner	(US$m)	share (%)	issues
1	State Bank of India	27,059.30	57.3	54
2	IDBI Bank	8,018.60	17	19
3	Axis Bank	2,833.60	6	15
4	Infrastructure Dev Finance	1,911.90	4.1	11
5	Standard Chartered	1,144.90	2.4	6
6	RBS	1,103.80	2.3	5
7	ICICI Bank	1,052.90	2.2	4
8	Citigroup	851.7	1.8	4
9	Almondz Global Securities	581.7	1.2	3
10	Deutsche Bank	451	1	2
11	BNP Paribas	250	0.5	2
12	ING	208.1	0.4	2
13	Punjab National Bank	196.4	0.4	2
14	Mizuho Finl	189.3	0.4	2
14	Mitsubishi UFJ Finl	189.3	0.4	2
	Industry total	47,204.10	100	118

India Syndicated Loans. 1/1/2008 — 31/12/2008
		Proceeds	Mkt.	No of
	Bookrunner	(US$m)	share (%)	issues
1	State Bank of India	15,971.40	41.4	40
2	ICICI Bank	5,306.50	13.8	20
3	Axis Bank	3,151.70	8.2	23
4	IDBI Bank	2,518.10	6.5	13
5	Infrastructure Dev Finance	1,427.30	3.7	6
6	Standard Chartered	1,238.30	3.2	7
7	BNP Paribas	1,191.20	3.1	9
8	HSBC	802.2	2.1	11
9	Sumitomo Mitsui Finl Grp	733.3	1.9	10
10	RBS	714.2	1.9	7
11	Mitsubishi UFJ Finl	628.4	1.6	7
12	Citigroup	541.7	1.4	4
13	Mizuho Financial	465.9	1.2	2
14	ING	450.8	1.2	3
15	Barclays Capital	400.4	1	4
	Industry total	38,554.90	100	131

Rupee Syndicated Loans. 1/1/2010 – 25/10/2010
		Proceeds	Mkt.	No of
	Bookrunner	(US$m)	share (%)	issues
1	State Bank of India	28,099.70	50.2	52
2	IDBI Bank	10,423.90	18.6	21
3	Axis Bank	6,360.00	11.4	26
4	Infrastructure Dev Finance	4,774.30	8.5	11
5	ICICI Bank	3,680.70	6.6	7
6	Yes Bank	902.8	1.6	9
7	RBS	569.9	1	2
8	Bajaj Consultants Pvt	503.5	0.9	2
9	Deutsche Bank	217.6	0.4	1
10	Bank of India	138.9	0.3	1
11	L&T Infra Finance Co	129.8	0.2	2
12	Canara Bank	71.5	0.1	1
13	ING Vysya Bank	27.4	0.1	2
13	SPA Merchant Bankers	27.4	0.1	2
	Industry total	55,927.20	100	126

Rupee Syndicated Loans. 1/1/2009 — 31/12/2009
		Proceeds	Mkt.	No of
	Bookrunner	(US$m)	share (%)	issues
1	State Bank of India	25,935.90	62.9	50
2	IDBI Bank	7,973.70	19.3	20
3	Axis Bank	2,753.60	6.7	15
4	Infrastructure Dev Finance	1,825.50	4.4	9
5	ICICI Bank	786.7	1.9	2
6	Almondz Global Securities	581.7	1.4	3
7	Deutsche Bank	386.7	0.9	1
8	Punjab National Bank	196.4	0.5	2
9	Yes Bank	184.3	0.5	3
10	Standard Chartered	179.6	0.4	1
11	RBS	123.7	0.3	1
12	SPA Merchant Bankers	120.2	0.3	1
13	Union Bank of India	98.8	0.2	2
14	HSBC	50.8	0.1	1
15	Citigroup	24.7	0.1	1
	Industry total	41,222.20	100	100

Rupee Syndicated Loans. 1/1/2008 — 31/12/2008
		Proceeds	Mkt.	No of
	Bookrunner	(US$m)	share (%)	issues
1	State Bank of India	12,498.40	53.8	32
2	ICICI Bank	3,893.10	16.8	10
3	IDBI Bank	2,368.10	10.2	13
4	Axis Bank	2,051.70	8.8	22
5	Infrastructure Dev Finance	1,358.50	5.9	6
6	Standard Chartered	518.3	2.2	4
7	Yes Bank	193.6	0.8	4
8	RBS	147.5	0.6	2
9	HSBC	110.2	0.5	1
10	Barclays Capital	93.7	0.4	1
	Industry total	23,233.10	100	91

Asia-Pacific Syndicated Loans. 1/1/2010 – 25/10/2010
		Proceeds	Mkt.	No of
	Bookrunner	(US$m)	share (%)	issues
1	State Bank of India	31,575.20	18.2	64
2	Bank of Taiwan	14,235.00	8.2	45
3	IDBI Bank	10,423.90	6	21
4	Axis Bank	7,000.50	4	29
5	ANZ Banking Group	6,234.70	3.6	37
6	Bank of China	6,198.90	3.6	19
7	Standard Chartered	6,034.20	3.5	54
8	HSBC	5,216.70	3	47
9	Infrastructure Dev Finance	4,774.30	2.8	11
10	ICICI Bank	3,950.70	2.3	9
11	Taiwan Cooperative Bank	3,613.20	2.1	72
12	Westpac Banking	3,145.90	1.8	12
13	Mega Financial Holding Co	3,080.20	1.8	67
14	Mitsubishi UFJ Finl	2,944.80	1.7	18
15	Oversea-Chinese Banking	2,889.40	1.7	18
	Industry total	173,405.50	100	630

Asia-Pacific Syndicated Loans. 1/1/2009 — 31/12/2009
		Proceeds	Mkt.	No of
	Bookrunner	(US$m)	share (%)	issues
1	State Bank of India	27,059.30	17	54
2	ICBC	11,164.50	7	9
3	Bank of China	11,104.70	7	27
4	IDBI Bank	8,018.60	5	19
5	ANZ Banking	6,560.00	4.1	41
6	Westpac Banking	5,340.70	3.4	24
7	National Australia Bank	5,285.30	3.3	16
8	DBS Group Holdings	4,348.40	2.7	38
9	C Bank of Australia	4,101.40	2.6	22
10	Standard Chartered	3,816.50	2.4	33
11	Guangdong Rural CU	3,429.70	2.2	1
12	HSBC	3,337.40	2.1	33
13	RBS	2,937.40	1.9	19
14	Bank Negara Indonesia	2,920.10	1.8	18
15	Axis Bank	2,833.60	1.8	15
	Industry total	159,028.20	100	602

Asia-Pacific Syndicated Loans. 1/1/2008 — 31/12/2008
		Proceeds	Mkt.	No of
	Bookrunner	(US$m)	share (%)	issues
1	State Bank of India	15,971.40	7.1	40
2	ANZ Banking Group	12,520.90	5.5	66
3	Bank of China	12,434.10	5.5	17
4	Westpac Banking	9,558.60	4.2	41
5	National Australia Bank	8,842.10	3.9	37
6	RBS	8,698.20	3.9	62
7	Standard Chartered	8,497.00	3.8	65
8	BNP Paribas	7,258.60	3.2	56
9	C Bank of Australia	6,842.70	3	25
10	DBS Group Holdings	6,570.80	2.9	51
11	Oversea-Chinese Banking	5,799.10	2.6	28
12	HSBC	5,464.80	2.4	52
13	ICICI Bank	5,306.50	2.4	20
14	Sumitomo Mitsui Finl	5,113.30	2.3	38
15	Credit Agricole CIB	4,983.40	2.2	47
	Industry total	226,047.10	100	797

International Indian DCM. 1/1/2010 – 25/10/2010
		Proceeds	Mkt.	No of
	Bookrunner	(US$m)	share (%)	issues
1	HSBC	1,180.20	19.8	8
2	Citigroup	1,106.40	18.5	8
3	Deutsche Bank	1,066.60	17.9	9
4	RBS	708.2	11.9	4
5	BofA Merrill Lynch	705.5	11.8	3
6	Barclays Capital	388.5	6.5	5
7	Standard Chartered	385.5	6.5	4
8	UBS	246.1	4.1	2
9	BNP Paribas	120	2	2
10	JP Morgan	69.7	1.2	1
	Industry total	5,976.50	100	12

International Indian DCM. 1/1/2009 — 31/12/2009
		Proceeds	Mkt.	No of
	Bookrunner	(US$m)	share (%)	issues
1	UBS	543.7	24.5	2
2	Credit Suisse	430.9	19.4	2
3	HSBC Holdings	399.2	18	2
4	BofA Merrill Lynch	249.6	11.2	1
5	Barclays Capital	149.7	6.7	1
5	JP Morgan	149.7	6.7	1
5	Citigroup	149.7	6.7	1
8	Deutsche Bank	149.5	6.7	1
	Industry total	2,222.00	100	5

International Indian DCM. 1/1/2008 — 31/12/2008
		Proceeds	Mkt.	No of
	Bookrunner	(US$m)	share (%)	issues
1	Deutsche Bank	300	46.7	1
2	Barclays Capital	119.6	18.6	1
3	HSH Nordbank	94.9	14.8	1
4	Credit Suisse	77.5	12.1	1
5	BNP Paribas	50	7.8	1
	Industry total	641.9	100	5

All International Asia-Pacific Bonds. 1/1/2010 – 25/10/2010
		Proceeds	Mkt.	No of
	Bookrunner	(US$m)	share (%)	issues
1	HSBC	12,830.20	9.7	87
2	JP Morgan	11,612.10	8.8	40
3	Deutsche Bank	9,741.20	7.4	54
4	UBS	9,401.00	7.1	46
5	Goldman Sachs	8,473.10	6.4	21
6	Citigroup	8,382.40	6.4	51
7	Barclays Capital	7,708.00	5.9	41
8	BofA Merrill Lynch	7,553.50	5.7	41
9	Morgan Stanley	7,526.40	5.7	38
10	Credit Suisse	5,260.60	4	35
11	BNP Paribas	5,217.40	4	42
12	RBS	4,956.50	3.8	39
13	Daiwa Securities	3,649.30	2.8	22
14	RBC Capital Markets	3,511.70	2.7	20
15	Standard Chartered	3,092.00	2.4	33
	Industry total	131,847.40	100	417

All International Asia-Pacific Bonds. 1/1/2009 — 31/12/2009
		Proceeds	Mkt.	No of
	Bookrunner	(US$m)	share (%)	issues
1	Deutsche Bank	18,672.80	10.3	68
2	JP Morgan	16,629.60	9.1	40
3	Citigroup	15,561.40	8.5	44
4	HSBC	15,490.80	8.5	89
5	Goldman Sachs	15,266.20	8.4	37
6	BofA Merrill Lynch	14,751.20	8.1	37
7	Barclays Capital	14,662.30	8.1	54
8	Morgan Stanley	11,696.60	6.4	34
9	UBS	10,510.40	5.8	36
10	Credit Suisse	6,635.00	3.6	28
11	RBS	5,327.40	2.9	33
12	Daiwa Securities	4,381.30	2.4	28
13	C Bank Australia	3,659.00	2	11
14	BNP Paribas	3,360.40	1.8	30
15	RBC Capital Markets	2,659.50	1.5	15
	Industry total	182,186.00	100	448

All International Asia-Pacific Bonds. 1/1/2008 — 31/12/2008
		Proceeds	Mkt.	No of
	Bookrunner	(US$m)	share (%)	issues
1	JP Morgan	7,487.30	8.9	30
2	HSBC	6,975.10	8.3	73
3	BofA Merrill Lynch	6,461.90	7.6	30
4	Barclays Capital	6,314.60	7.5	34
5	Goldman Sachs	5,728.90	6.8	17
6	Deutsche Bank	5,705.00	6.7	26
7	Daiwa Securities	4,522.00	5.4	32
8	Citigroup	4,476.30	5.3	24
9	Nomura	4,170.50	4.9	19
10	RBS	4,091.70	4.8	29
11	UBS	3,991.00	4.7	20
12	Credit Suisse	3,838.80	4.5	13
13	BNP Paribas	3,307.50	3.9	24
14	Nikko Citi	2,884.10	3.4	21
15	Morgan Stanley	2,557.20	3	10
	Industry total	84,587.20	100	331

External commercial borrowings: Annual flows and outstanding (US$m)
Fiscal year	Approvals	Gross disbursement	Amortisation	Interest	Total servicing	ECB debt oustanding
1990–91	1,903.00	4,252.00	2,004.00	1,410.00	3,414.00	10,209.00
1991–92	2,127.00	3,133.00	1,677.00	1,153.00	2,830.00	11,715.00
1992–93	2,200.00	1,167.00	1,525.00	1,182.00	2,707.00	11,643.00
1993–94	2,585.00	2,913.00	1,978.00	1,254.00	3,232.00	12,363.00
1994–95	4,469.00	4,152.00	2,812.00	1,478.00	4,290.00	12,991.00
1995–96	6,286.00	4,252.00	3,868.00	1,380.00	5,248.00	13,873.00
1996–97	8,581.00	7,571.00	4,605.00	1,354.00	5,959.00	14,335.00
1997–98	8,712.00	7,371.00	3,550.00	1,384.00	4,934.00	16,986.00
1998–99	5,200.00	7,226.00	3,477.00	1,593.00	5,070.00	20,978.00
1999–00	3,398.00	3,187.00	4,147.00	1,653.00	5,800.00	19,943.00
2000–01	2,837.00	9,621.00	5,378.00	1,695.00	7,073.00	24,408.00
2001–02	2,653.00	2,684.00	4,107.00	1,456.00	5,563.00	23,320.00
2002–03	4,235.00	3,505.00	5,019.00	1,167.00	6,186.00	22,472.00
2003–04	6,671.00	5,225.00	8,045.00	2,119.00	10,164.00	22,007.00
2004–05	11,490.00	9,084.00	3,571.00	959	4,530.00	26,405.00
2005–06	17,175.00	14,343.00	11,584.00	3,165.00	14,749.00	26,452.00
2006–07	25,353.00	20,257.00	3,814.00	2,517.00	6,331.00	41,443.00
2007–08	28,900.00	28,784.00	6,119.00	3,652.00	9,771.00	62,337.00
2008–09	17,200.00	13,377.00	6,439.00	3,962.00	10,401.00	62,508.00

Foreign investment inflows: Monthly (US$m). Jul 2010–Jan 2009
	2010							2009
	Jul	Jun	May	Apr	Mar	Feb	Jan	Dec	Nov	Oct	Sep	Aug	Jul	Jun	May	Apr	Mar	Feb	Jan
A) Direct Investment (A.a+A.b+A.c)	1,785	1,380	2,213	2,179	1,209	1,717	2,042	1,542	1,700	2,332	1,512	3,174	3,476	2,471	2,095	2,339	1,956	1,466	2,733
A.a) Equity (A.a.1)+(A.a.2)+(A.a.3)+(A.a.4)	1,785	1,380	2,213	2,179	1,209	1,717	2,042	1,542	1,700	2,332	1,512	3,174	3,476	2,471	2,095	2,339	1,956	1,466	2,733
A.a.1) Government (SIA/FIPB)	49	159	555	440	139	93	588	51	179	302	111	643	248	85	101	931	705	185	1,102
A.a.2) RBI	1,387	914	1,274	1,361	1,016	1,364	1,292	1,233	1,367	1,726	1,355	2,477	1,757	2,337	1,916	1,150	1,076	981	1,471
A.a.3) NRI	—	—	—	—	—	—	—	—	—	—	—	—	1,471	—	—	—	175	—	—
A.a.4) Acquisition of shares *	349	307	384	378	54	260	162	258	154	304	46	54	1,471	49	78	258	175	300	160
B) Portfolio Investment (B.a+B.b+B.c)	9,114	1,297	-364	3,315	5,306	230	3,139	1,533	1,274	2,922	5,095	1,574	3,032	353	5,639	2,278	-889	-1,085	-614
B.a) GDRs/ADRs ##	364	426	127	156	100	230	46	94	381	—	96	1,603	965	10	—	33	20	—	—
B.b) FIIs **	8,750	871	-491	3,159	5,206	230	3,093	1,439	893	2,922	4,999	-29	2,067	343	5,639	2,245	-909	-1,085	-614
B.c) Offshore funds and others	—	—	—	—	5,206	230	—	—	—	—	—	—	—	—	—	—	—	—	—
C) Total investment inflows (A+B)	10,899	2,677	1,849	5,494	6,515	1,947	5,181	3,075	2,974	5,254	6,607	4,748	6,508	2,824	7,734	4,617	1,067	381	2,119
* Acquisition of shares — It relates to acquisition of shares of Indian companies by non-residents under Section 5 of FEMA, 1999. Data on such acquisitions have been included as part of FDI since January 1996.
** FIIs — It represents inflow of funds (net) by Foreign Institutional Investors (FIIs).
# Equity capital of unincorporated bodies - Provisional figures are estimates.
## GDRs/ADRs - It represents the amount raised by Indian Corporates through Global Depository Receipts (GDRs) and American Depository Receipts (ADRs).
$ Reinvested earnings - Provisional data are estimated as average of previous two years.
$$ Other capital - Data pertain to inter company debt transactions of FDI entities.
Notes
1. Data on FDI have been revised since 2000-01 with expanded coverage to approach international best practices.
2. These data, therefore, are not comparable with FDI data for previous years.
3. Monthly data on components of FDI as per expanded coverage are not available.
4. Information on reinvestment earnings is computed based on the balance sheet information of the company, which is available only on quarterly basis in India.
Other capital of FIIs is also derived based on quarterly returns relating to External Debt. Thus, monthly data do not contain information on these items, which are available on quarterly dataset.
5. As a result, yearly data of FDIs do not tally with their monthly totals

India's overall balance of payments (US$m)
	Apr–Jun 2010 P			Apr–Jun 2009 PR			Jan–Mar 2010 P
Item	Credit	Debit	Net	Credit	Debit	Net	Credit	Debit	Net
1	2	3	4	5	6	7	8	9	10
A.Current account
I. Merchandise	53,726	87,920	–34,194	39,164	64,799	–25,635	52,419	83,911	–31,492
II.Invisibles (a+b+c)	42,725	22,263	20,462	37,616	16,435	21,181	42,845	24,351	18,494
a) Services	26,116	16,059	10,057	21,322	10,949	10,373	26,942	18,890	8,052
i) Travel	2,950	2,261	689	2,297	2,035	262	3,403	2,638	766
ii) Transportation	3,097	3,134	–37	2,490	2,777	–287	3,100	3,570	–470
iii) Insurance	404	310	94	387	314	73	421	326	96
iv) G.n.i.e.	94	143	–49	100	103	–3	116	159	–42
v) Miscellaneous	19,571	10,211	9,360	16,048	5,720	10,328	19,901	12,199	7,703
of which
Software services	12,655	575	12,080	11,004	391	10,613	14,297	307	13,990
Business services	4,819	5,902	–1,083	2,586	3,872	–1,286	3,818	5,571	–1,753
Financial services	1,228	1,404	–176	1,116	928	188	1,103	1,517	–414
Communication services	325	241	84	418	312	106	245	383	–139
b) Transfers	13,754	700	13,054	13,344	470	12,874	13,216	642	12,574
i) Official	59	115	–56	46	110	-64	126	142	–16
ii) Private	13,695	585	13,110	13,298	360	12,938	13,090	500	12,590
c) Income	2,855	5,504	–2,649	2,950	5,016	–2,066	2,686	4,818	–2,132
i) Investment Income	2,628	5,042	–2,414	2,723	4,665	–1,942	2,455	4,326	–1,871
ii) Compensation of Employees	227	462	–235	227	351	–124	231	492	–261
Total Current Account (I+II)	96,451	110,183	–13,732	76,780	81,234	–4,454	95,264	108,262	–12,998
B. Capital account
1. Foreign Investment (a+b)	52,635	44,880	7,755	48,422	34,033	14,389	49,315	37,357	11,958
a) Foreign Direct Investment (i+ii)	8,569	5,419	3,150	9,797	3,676	6,121	7,912	4,719	3,193
i. In India	8,275	2,302	5,973	9,672	926	8,746	7,588	2,473	5,115
Equity	5,991	2,278	3,713	7,290	900	6,390	5,353	1,512	3,841
Reinvested Earnings	2,166	—	2,166	2,020	—	2,020	2,020	–	2,020
Other Capital	118	24	94	362	26	336	215	961	–746
ii. Abroad	294	3,117	–2,823	125	2,750	–2,625	324	2,246	–1,922
Equity	294	1,914	–1,620	125	2,053	–1,928	324	910	–585
Reinvested Earnings	—	271	–271	—	271	–271	—	271	–271
Other Capital	—	932	–932	—	426	–426	—	1,066	–1,066
b) Portfolio Investment	44,066	39,461	4,605	38,625	30,357	8,268	41,403	32,638	8,765
In India	43,972	39,320	4,652	38,602	30,332	8,270	41,169	32,493	8,675
of which FIIs	42,858	39,320	3,538	38,559	30,332	8,227	41,023	32,493	8,529
ADRs/GDRs	1,114	—	1,114	43	—	43	146	—	146
Abroad	94	141	–47	23	25	–2	234	144	89
2.Loans (a+b+c)	24,696	14,110	10,586	12,920	14,746	-1,826	24,439	18,477	5,962
a) External Assistance	3,090	754	2,336	821	725	96	1,577	742	835
i) By India	14	20	–6	13	105	–92	13	105	–93
ii) To India	3,076	734	2,342	808	620	188	1,565	637	928
b) Commercial Borrowings (MT&LT)	4,521	1,850	2,671	1,973	2,432	–459	5,026	4,886	140
i) By India	185	243	-58	244	333	–89	297	387	–90
ii) To India	4,336	1,607	2,729	1,729	2,099	–370	4,729	4,499	230
c) Short Term to India	17,085	11,506	5,579	10,126	11,589	–1,463	17,836	12,849	4,987
i) Suppliers' Credit >180days & Buyers' Credit	15,579	11,506	4,073	10,126	9,590	536	15,396	12,849	2,547
ii) Suppliers' Credit up to180 days	1,506	—	1,506	—	1,999	–1,999	2,440	—	2,440
3. Banking Capital (a+b)	16,747	12,742	4,005	15,577	18,943	–3,366	14,207	15,109	–902
a) Commercial Banks	16,745	12,718	4,027	15,577	18,704	–3,127	14,195	15,109	–914
i) Assets	3,263	2,558	705	4,368	6,946	–2,578	3,531	4,709	–1,179
ii) Liabilities	13,482	10,160	3,322	11,209	11,758	–549	10,664	10,399	265
of which Non-Resident Deposits	11,254	10,133	1,121	11,172	9,354	1,818	9,665	10,215	–551
b) Others	2	24	–22	—	239	–239	12	—	12
4. Rupee Debt Service	—	16	–16	—	23	–23	—	73	-73
5. Other Capital	1,206	5,151	–3,945	177	5,332	-5,155	2,263	3,119	-856
Total Capital Account (1 to 5)	95,284	76,899	18,385	77,096	73,077	4,019	90,224	74,136	16,088
C. Errors & Omissions	—	912	–912	550	—	550	—	949	–949
D. Overall Balance	191,735	187,994	3,741	154,426	154,311	115	185,487	183,346	2,141
(Total Current Account, Capital Account	—	—	—	—	—	—	—	—	—
and Errors & Omissions (A+B+C))
E. Monetary Movements (i+ii)	—	3,741	–3,741	—	115	–115	—	2,141	–2,141
i) I.M.F.	—	—	—	—	—	—	—	—	—
ii) Foreign Exchange Reserves	—	3,741	–3,741	—	115	–115	—	2,141	-2,141
( Increase - / Decrease +)
of which: SDR allocation	—	—	—	—	—	—	—	—	—
P=Preliminary. PR=Partially Revised.

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