SBICAP was set up as a wholly owned subsidiary of State Bank of India, India's largest Commercial Bank. In 1997, Asian Development Bank (ADB) picked up a 13.84% stake in SBICAP.

"The ADB's stake has been purchased by State Bank of India in March 2010. SBICAPS is again a ‘wholly owned subsidiary’ of State Bank of India."

SBICAP was set up as a wholly owned subsidiary of SBI and even today, apart from the Chairman, the top management of SBICAP is almost entirely composed of executives on deputation from SBI. There is thus a constant interaction between the two organisations, especially at the higher levels. Further, SBI and SBICAP operate in complementary fields, and synergies are leveraged with SBI as well as other government companies.

Despite this, SBI and SBICAP maintain a formal relationship as is necessary between a Commercial Bank and an Investment Bank.

Unlike other domestic investment banks, SBICAP does not have a formal tie-up with any international investment bank. SBICAP does, however tie-up with international investment banks on an case to case basis for specific assignments.

SBICAP offers a gamut of investment banking services, which include the following:

• Mergers & Acquisitions and Advisory (including Privatisation, Business / Financial Restructuring & Business / Financial Valuations)
• Project Advisory and Structured Finance
  
• Capital Markets (including Public Issues, Rights Issues & Private Placement of Debt and Equity)
• Broking Services
• Financial Engineering

We are the market leaders in Resource Mobilisation through the Capital Markets.

SBICAP has commenced broking operations in March 2001. We are members of the BSE and the NSE. At present, we offer equity and debt broking services only to institutional clients.

SBICAP has the privilege of having prestigious Government undertakings as well as private sector corporates on its client list. We have strong business relations with various government bodies, PSUs and at the same time, we have also private sector corporates such as Reliance, Tata Group, Birla Group, Wipro, Hyundai, Essar, PRG, Petronet, Mascot, Tractebel etc. are our clients.

The Corporate Office of SBICAP is at Mumbai. While product execution is centralised at the Corporate Office, the six Regional offices function as relationship and sales outfits.

The SBICAP workforce, a perfect blend of Experience and Expertise, is a combination of professionals from State Bank of India, MBAs/CAs and experienced lateral recruits from the market. Out of the total of 285 employees, 31 are executives on deputation from the State Bank of India and 208 are Directly Recruited Managerial Staff. 80% of the direct recruits are MBAs from India's leading Business Schools and 20% are Chartered Accountants.

SBICAP recruits mainly at the entry level from select Premiere Management Institutes and from the Institute of Chartered Accountants. However for certain specialised positions, experienced professionals from the industry are also hired.

SBICAP can offer a complete suite of solutions for an Indian or Overseas Business House/Entrepreneur to set up projects in India. Our PA&SF Group specializes in feasibility studies across a spectrum of industries. Coupled with this, SBICAP's position as the largest fund arranger in India offers access to various structured fund raising options through debt and equity. SBICAP's thorough understanding of a Bankers', Investors' and Regulators' perspective, offers an unique advantage to the client.

SBICAP has been at the forefront of raising funds through debt and equity capital markets. On the equity front we have numerous IPOs, Rights Issues and Private Equity transactions to our credit. Where as on the debt capital markets side, SBICAP has been numero uno in the placement of Debentures and in loans syndication.

With a steep decline in interest rates and readjustment of the return expectations on equity, it has become a necessity for most corporations to review their funding mix. In many cases it is also pertinent to refinance the debt portfolio to take advantage of the lower costs.

SBICAP has advised many a client on Balance Sheet Restructuring and/or Debt Restructuring to provide the optimum benefit for the companies.