Overseas direct investment by Indian companies fell to $ 1.83 billion in May, down 76 per cent from a month ago, data from the Reserve Bank showed on Friday.
The RBI had released the outward foreign direct investment by the Indian companies during the month of April which stood at $ 7.64 billion.
In a total of 489 deals, companies such as Cox & Kings, Piramal Enterprises, JSW Steel, Punj lloyd and Tata International were among the major companies to invest abroad in May. In comparison, 499 deals were carried by Indian companies in April -- the first month of the new fiscal (2013-14).