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Expertise

SBI Capital Markets enables clients to meet their strategic and financial objectives through its complete bouquet of investment banking and corporate advisory services.

  • INR 1.23 trillion
    Deal Volume FY’22
  • 200+
    Team Members
  • 15+
    Sectors

SBICAP has a strong and unparalleled presence in the Project Finance Advisory space in India, with several prestigious mandates to our credit. As the leading financial advisor for Infrastructure projects in the country, we advise both domestic and international clients of repute, and provide them with a comprehensive range of offerings to cover the entire life cycle of projects.

Our offerings

  • M&A Advisory in Distressed Assets
  • Restructuring Advisory
  • NCLT Advisory
  • Government Advisory Services
  • Fund Raising for PSUs
  • Syndication Services
  • Arrangement of Specialised Lines of Credit from foreign Multilaterals and ECAs
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  • M&A Advisory in Distressed Assets

    Our seasoned M&A and Restructuring advisory teams have tremendous knowledge and experience in the infrastructure and financial space. The teams work in close coordination with the stakeholders for the successful closure of transactions in a time-bound manner to conserve and optimize value for the stakeholders.

    Our service offerings include:

    i. Buy side advisory
    ii. Sell side advisory
    iii. Advisory for change in management and
    iv. Assisting in bid process management within the applicable regulations.

  • Restructuring Advisory

    Our Team is experienced in Debt Restructuring Advisory as per relevant regulations. We are engaged by both PSU and Private Banks and act as Process Advisors to lenders in the debt restructuring process. We identify appropriate debt restructuring options for the different stakeholders and act as the catalyst for successful long-term debt restructuring and resolutions, both within and outside NCLT framework.

  • NCLT Advisory

    Our Team is experienced in the COC/RP Advisory for Resolution processes under the Insolvency and Bankruptcy Code. We have undertaken several marquee transactions as both process advisor to the Resolution Professional or Resolution Advisors to the Committee of Creditors. We provide a wide range of services from designing eligibility criteria/ evaluation criteria, bid evaluations, and bid negotiation to enable the successful closure of the resolution process.

  • Government Advisory Services

    The Government Advisory Services team has the distinction and privilege of working closely with government think tanks including Central Government, various State Governments, and numerous Public Sector Units (PSU’s). Our service offerings are designed to deliver results and include inter-alia, transaction advisory services, bid process management, advisory in policy formulation, fund raising for government/PSU clients, appraisal for capital investment, monitoring of policy outcome etc. The team has significant expertise in mineral and coal auctions, bid advisory services, privatization etc. The team integrates services of various sub-consultants (technical, legal, tax etc.) for successful closure of the transactions.

  • Fund Raising for PSUs

    The SBICAP Project Advisory & Structured Finance (PA&SF) Group is a trusted partner to various Public Sector Undertakings (PSUs) and their group companies, in core sectors such as Railways, Roads, Oil and Gas, City Gas distribution, Fertilisers, Power, Ports, etc. We advise and assist them to raise funds as well as achieve strategic business objectives, which furthers the overall economic development of the nation.

  • Syndication Services

    Product Offerings include

    i. Project Financing
    ii. Project / Financial Appraisal
    iii. Downselling
    iv. Refinancing / Securitization

    Scope of Services include

    i. Analysis of Project Documents
    ii. Preparation of Financial Model including Capital Structuring, Projections etc.
    iii. Preparation of Information Memorandum detailing about company, project analysis, financial proposal/refinancing or securitization proposal, Risk & SWOT analysis, indicative term-sheet
    iv. Placement strategy
    v. Negotiation of terms & conditions
    vi. Finalization of loan agreements
    vii. Assistance in underwriting & down-selling

  • Arrangement of Specialised Lines of Credit from foreign Multilaterals and ECAs

    We have partnered with several Bilateral & Multilateral development banks as well as Export Credit Agencies (ECAs) in order to help roll out their development agenda in India. Our team works with banks, NBFCs, etc. to help in arranging lines of credit (concessional as well as commercial loans, grants, technical assistance etc) for various industry sectors, based on the requirement. We have arranged a number of lines of credit from the World Bank, European Investment Bank, KfW, etc for funding solar power projects (both utility scale and rooftop), wind power projects, energy efficient buildings, affordable Housing & Priority sectors. We have also worked closely with Export Credit Agency (ECAs) like JBIC/NEXI, Korea EXIM, KfW-IPEX, etc for Japanese, Korean and European content linked loans. Our services range right from the conceptualisation and origination stage until the disbursement of the Line of Credit. The unique expertise of the team in this field has also helped our clients to enhance their “green lending” footprint.

Why Us?

We understand complex business and operational situations, and build customised solutions for them. We draw on our significant experience, sector-specific expertise, and industry networks to work on pioneering assignments, and create path-breaking solutions that offer value for all stakeholders.

  • First port of call

    We are the first port of call for corporate houses regarding investment decisions and the go-to name for banks or government bodies for reliable advice. Pioneers in the Indian project finance segment, we are a trusted ally to both the Government and Private sector in their economic development journey.

  • Domain expertise across sectors

    We have extensive expertise in various crucial sectors such as transport, BFSI, Power, Oil and Gas, Mining and Metals, with dedicated teams to assist clients on sector-specific requirements. Our special teams for government advisory services engage constantly with the state and central governments, to deliver value-added services.

  • Strong legacy built on trust

    Over three decades, we have forged strong and lasting relationships with businesses (both private and public), policy makers and regulators, as well with capital providers, i.e. banks, funds, infra NBFCs, etc. and are able to deliver comprehensive and customized solutions for both simple and complex transactions.

Recent transactions

Recent Transactions

View All Transactions
Yamuna International Airport Private Limited
Value: INR 3,735 Cr
Financial Advisor
2022
Shapoorji Pallonji and Company Private Ltd.
Value: INR 12,451 Cr
Financial Advisor
2022
Simar Port Private Ltd.
Value: INR 2,720 Cr
Financial Advisor
2022
HPCL LNG Limited
Value: INR 3,000 Cr
Debt Syndication
2022
Navi Mumbai International Airport Pvt. Ltd.
Value: INR 12,770 Crore
Financial Advisor & Lead Arranger
2022
Bhushan Power & Steel
Value: INR 19,350 Cr
Process Advisor
2021
View All Transactions

Industry Accolades

View All Accolades

Ranked No.1 - APAC Project Finance Loans

Bloomberg 2021

Ranked No.1 - MLA - Asia Pacific Project Finance Loans

Dealogic 2021

Ranked No.1 - India Loans Volume by MLA

Dealogic 2021

Petrochemical Deal of the Year

The Asset Triple A Infrastructure Awards 2021

Water Deal of the Year

The Asset Triple A Infrastructure Awards 2021

Power Deal of the Year

The Asset Triple A Infrastructure Awards 2021

Ranked No. 1 - APAC Project Finance Loan

Bloomberg 2020

Ranked No. 1 – Indian M&A involvement completed

Refinitiv 2020

Ranked No. 1 – India Mandated Lead Arranger

Debtwire 2020
View All Accolades

Team

We combine a dedication to meeting our clients’ needs with a commitment to our people. We are looking for exceptional talent to join our team.

Join Us

What Our Clients Say

The SBICAP team treated the CG Power & Industrial Solutions transaction as more than just work. For them, it was the revival of a very distressed supply chain with the utmost empathy, for which they brought together their immense sectoral knowledge, relationships across the financial sector, corporate access, besides deep analytical skills. They integrated seamlessly with the CG team to create value for all stakeholders – customers, vendors, banks, shareholders, and employees. To do this during the lockdown with lightning speed deserves a huge applause.

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CG Power & Industrial Solutions

Kindly accept our thanks for all your support, guidance, and nudge to make the bid a success. Every M&A is like a roller coaster – it has its ups and downs. But having SBICAP on your side helps move things forward. You know how to navigate complex territory, and this guided us in several instances during the transaction. We would say with great confidence that SBICAP is an outstanding merchant bank, far different and better compared to any private merchant bank. We really look forward to working with you all again.

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Tube Investments of India Limited

Sincere compliments to the SBICAP team for the successful and timely closure of one of our critical and complicated accounts. Their efforts in reaching out to prospective investors, engaging in multiple negotiations/ discussions with all stakeholders (lenders, lawyers, borrower, etc.) for RP finalization, and assuaging the concerns of all parties is commendable. They also adhered to strict timelines, and conceptualized multiple scenarios for improving the value for lenders in the process, despite there being multiple uncertainties, a probe by investigation agencies, etc. This is indeed one of the best turnaround cases for the preservation of a great company, saving many jobs and helping lenders get their dues back. Kudos to the SBICAP team for pulling off this mandate successfully. Will look forward to engaging with SBICAP in the future.

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YES BANK LIMITED

The CG resolution was a challenging assignment involving multiple parties and complex issues. The SBICAP team has done commendable work in efficiently handling various aspects and facilitating the time-bound closure of the transaction. Wishing the team all the best.

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Aditya Birla Finance Limited

The debt syndication of INR 6,333.48 crore for Arun-3HEP (900MW), Nepal, was a challenging assignment, especially because Nepal as a country is on the negative list for many international financial institutions. The completion of debt syndication involving banks and financial institutions from India and Nepal was not an ordinary task. SAPDC would like to extend its sincere gratitude and appreciation to the SBI Capital Markets team for advising and arranging the term loan for Arun-3 HEP (900MW) Nepal.

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Jitendra Yadav Chief Financial Officer, SJVN Arun - 3 Power Development Company (P) Limited
  • INR 400.38 Billion
    Deal Volume FY’22
  • 35+
    Team Members
  • 20+
    Sectors

SBICAP provides end-to-end Equity Market Solutions to help clients achieve their equity fund-raising goals. As leaders in Indian investment banking, we have worked on some of the most complex, path-breaking transactions in the Equity Market space. Our team consists of seasoned and tenured professionals whose unique skill sets, in-depth capabilities, and access to global networks help businesses gain the right strategic advice and raise and deploy the capital needed to drive growth.

Our offerings

  • Equity Capital Markets
  • M&A Advisory
  • Private Equity Advisory
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  • Equity Capital Markets

    Our services cover public issues including Initial and Follow-on Public Offerings (IPOs and FPOs) and rights issues, private placements including Qualified Institutional Placements (QIPs) and Institutional Placement Programme (IPP), Offer for Sale (OFS) on the stock exchange, bulk and block trades on exchanges and off-market transactions, and offerings of convertible securities. Our advisory services cover open offers, buy back, and delisting offers, capital restructuring, and even arrangement services for products such as Indian Depository Receipts ADR/GDR and other offshore equity listing options. We also arrange private equity, including growth capital, pre-IPO convertibles, Private Investment in Public Equity (PIPE), mezzanine debt, and equity and equity offerings completed as a private placement.

  • M&A Advisory

    We specialise in mergers and acquisitions advisory, facilitating domestic and cross-border transactions in over 40 countries. Our services support Buy-side, Sell-side, and Domestic M&A, and Joint ventures. We advise on mergers (including on recommendation of share swap ratio), demergers and sale of business and/or assets, undertaking business evaluation, due diligence, and capital structuring. We also facilitate syndication and placement of private/quasi equity from different investor classes, both domestic and overseas. Owing to our expertise in the space, we are the preferred strategy and bid advisors to state and central government organisations as well as regulatory bodies.

  • Private Equity Advisory

    As advisors, we facilitate the placement process from the beginning to the end. Our services include transaction structuring, preparing the placement memorandum, marketing the deal, preparing the company for a PE investor due diligence, negotiating terms with investors, and closing. Our relationships with different investor classes both domestic and overseas, and with alternative investment funds, as relevant to the business, sector, investment type, and horizon, help meet the company’s equity funding goals.

Why Us?

We have a proven record of delivering exceptional value to businesses at different stages of their operations, by leveraging our distinct strengths.

  • In-depth expertise

    With our deep knowledge of the financial sector as well as key industry segments driving India’s GDP, we are uniquely positioned to offer transactional and strategic advisory solutions to clients. Our top-ranked analysts bring industry-leading research capabilities that shape the opinions of discerning foreign institutional investors (FIIs) and domestic investors.

  • Customized solutions

    Apart from advising clients on growth strategies, we provide customized solutions for complex transactions. This, combined with our regulatory experience and comprehensive execution support, allows us to successfully navigate complex deal situations.

  • Spectrum of fund-raising solutions

    Our cross-product expertise encompasses the entire spectrum of equity fundraise strategies, for both public and private markets like IPO, QIP, FPO, etc.

  • Access to capital

    We bring unparalleled access to domestic and international pools of Equity Capital to support multiple transaction possibilities. Our long-standing relationships with global investors including mutual funds, insurance companies, FPIs, high net-worth individuals and retail investors, give our product and solution offerings an undeniable edge.

Partnership with Investec

Market-leading capabilities, made stronger together

SBICAP partners with Investec to offer comprehensive and highly differentiated Equity Capital Market solutions. The joint venture between the two investment banks combines SBICAP’s domain expertise with Investec’s demonstrated strengths in sales and research to deliver seamless solutions to clients.

This partnership brings to the table:

  • Exceptional market intelligence

    Investec analysts are top-rated in the sectors they cover and are the go-to professionals for research advice in these sectors. They are known for their investor education initiatives.

  • Global sales team

    Investec’s Institutional Sales & Equities team in global locations such as the US, UK, and Singapore, has an Indian focus. Clients can access either directly or through Investec’s overseas affiliates institutional sales, overseas institutional sales support, trading and broking support services.

The Advantage

Leading local domain expertise and a dedicated international sales team backed by robust research, to support the most complex and most unique equity capital requirements.

Recent transactions

Recent Transactions

View All Transactions
SHYAM METALICS & ENERGY LTD.
Value: INR 908.80 Cr
IPO
2021
NMDC LTD.
Value: INR 3,632.76 Cr
OFS(SE)
2021
GR INFRAPROJECTS LTD.
Value: INR 962.37 Cr
IPO
2021
HOUSING & URBAN DEVELOPMENT CORP.LTD.
Value: INR 720.68 Cr
OFS(SE)
2021
GLENMARK LIFE SCIENCES LTD.
Value: INR 1,513.60 Cr
IPO
2021
WINDLAS BIOTECH LTD.
Value:
IPO
2021
View All Transactions

Industry Accolades

View All Accolades

Ranked No. 3 - Secondary Market Issues

Prime Database FY 2022

Best Rights Issue (India)

The Asset Triple A Country Awards 2020

Best of South Asia Deal

Finance Asia 2020
View All Accolades

What Our Clients Say

Our faith in selecting SBICAP as the left lead for this effort has been more than justified. Your advice to go with a single counsel not only saved costs but also smoothened the whole process, of filing and getting SEBI’s final observations.

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One of India’s leading private equity firms

The SBICAP team played a substantial role in the entire rights issue process, including in the preparation of the corporate presentation, providing inputs on the Letter of Offer, marketing and coordination with key institutional investors, and taking the lead on the entire post-issue work and coordination with the stock exchanges. Further, they also coordinated with SBI for resolving technical issues relating to the ASBA applications."

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CFO at one of India’s leading retail houses

"Your procurement was better than that of most bulge bracket banks. We highly appreciate the efforts and enthusiasm shown by the SBICAP-Investec teams.

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MD & CEO of a leading Indian bank

We were happy to see the keenness from SBICAP-Investec to contribute in a very timely and efficient manner.

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MD & CEO of a reputed Indian bank
  • Rs. 99,249 Crore
    Deal Volume FY’22
  • 30
    Team Members
  • 12
    Sectors

Our Debt Capital Markets (DCM) team is one of the leading arrangers for funds raised through the domestic Debt Capital Market and has been among the top 5 arrangers in the Bloomberg Domestic Debt League Table for the last few years. Along with bespoke advisory services, we offer a range of fixed income solutions and innovative products, developed to suit specific client requirements.

Our offerings

  • Fundraising Advisory
  • Private Placement Of Fixed Income Securities
  • Public Issue of Bonds
  • Offshore Bonds
  • Structured Solutions
  • Municipal Bonds
  • Asset Monetisation
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  • Fundraising Advisory

    SBICAP offers comprehensive advisory services to clients for fundraising. Our services include formulation of fundraising strategy, deciding timelines, preparing marketing materials, identifying and approaching investors, conducting due diligence, assisting in negotiating the term sheet, and closing the transaction.

  • Private Placement Of Fixed Income Securities

    SBICAP is a leading arranger in the domestic debt capital market for the private placement of fixed income securities such as Non-Convertible Debentures (NCDs)/Bonds and commercial papers. Our clients include corporates, Non-Banking Financial Corporations (NBFCs), banks, financial institutions, municipal corporations, and central/state government undertakings

  • Public Issue of Bonds

    Apart from private placement of debt instruments, SBICAP also offers public issue of fixed income securities such as taxable Non-Convertible Debentures (NCDs) and tax-free bonds.

  • Offshore Bonds

    SBICAP provides world-class solutions at par with leading global banks to issuers raising foreign currency bonds and rupee denominated offshore bonds, in partnership with the State Bank of India. We have consistently been ranked among the top domestic banks in the issuance of Foreign Currency Bonds and have the required technical expertise to assist companies in expanding their funding mix by tapping into foreign markets.

  • Structured Solutions

    In addition to plain vanilla bonds, SBICAP also assists companies in accessing various debt structures like credit enhanced bonds, structured obligations, securitized debt, covered bonds, and PTCs (Pass Through Certificates).

  • Municipal Bonds

    SBICAP has been at the forefront of the municipal bond market in India. We were a part of the COBOSAC (Corporate Bonds and Securitisation Advisory Committee) which laid down the regulatory framework for issuance of debt securities by municipalities. We hold the distinction of executing the maximum number of municipal bond issuances in India, including the first municipal bond issuance in 2017 under the new SEBI guidelines, for Pune Municipal Corporation.

  • Asset Monetisation

    The SBICAP Debt Capital Markets group is reinventing the fixed income landscape through innovative and structured transactions across sectors. We work closely with leading corporates and government agencies, and liaison with regulators to help clients free up locked capital and explore new possibilities for financial growth.

Why Us?

With several award-winning deals and unmatched execution capabilities, we are the preferred financial advisors for corporates, Non-Banking Financial Corporations (NBFCs), banks, financial institutions, multilateral agencies, municipal corporations, and central/state government undertakings.

  • Deep understanding of the market

    Our strong technical expertise and deep knowledge of the financial markets help us steer complex transactions to success. Our clients rely on us to handle challenging mandates and develop the right strategies to address new and unprecedented requirements.

  • Pioneers in innovative products

    We have spearheaded the development of many innovative debt instruments and have the distinction of being the first to launch several initiatives – such as issuance of the first metro rail bond, first municipal bond, the first Maharaja bond, etc.

  • Regulatory expertise

    Our team members are part of various regulatory committees and panels, and constantly advise law makers, thus shaping India’s regulatory landscape. This positions us to correctly assess, understand, and advise on regulatory aspects of deals.

  • Strong investor relationships

    Our long-standing investor relationships and ability to structure complex transactions give our products and solutions an edge in the debt capital markets space.

Recent transactions

Recent Transactions

View All Transactions
Jammu & Kashmir Bank
Value: INR 360 Cr
Mar 2022
Nilkamal India Ltd
Value: INR 99 Cr
Mar 2022
Vadodara Municipal Corporation
Value: INR 100 Cr
Mar 2022
Indian Oil Corp Ltd
Value: INR 1,500 Cr
Feb 2022
Rashtriya Chemicals & Fertilizers
Value: INR 300 Cr
Jan 2022
Bharat Oman Refineries LTD
Value: INR 1,000 Cr
Oct 2021
View All Transactions

Industry Accolades

View All Accolades

Ranked No. 4 - Domestic Debt Issuances

Bloomberg FY 2022

Best Quasi Sovereign Bond, India

The Asset Triple A Infrastructure Awards 2020

First Municipal Bond after 14 years

Pune Municipal Corporation

Maiden Green Bond

Power Finance Corporation

Maiden Masala Bond

National Highways Authority of India

Ranked No. 3 - Domestic Private Placement of Bonds

Bloomberg 2020
View All Accolades

Team

We combine a dedication to meeting our clients’ needs with a commitment to our people. We are looking for exceptional talent to join our team.

Join Us
Group Head
other members

What Our Clients Say

The punctuality, approach, and teamwork shown by the SBICAP team is outstanding. Shri Nirav Acharya and Smt. Dipal Talsania have offered accurate and timely advice which enabled us to complete the due process of issuing municipal bonds in a short period with excellent output.

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Surat Municipal Corporation

We gratefully acknowledge the support Team SBICAP has extended in obtaining the sanctions from the investors and helping BIAL conclude the NCD documents. We also thank you all for your patience and sustained efforts to take the transaction to conclusion through the last few weeks. It is only because of all these efforts that we could sign the documents and issue the NCDs and prepay the loan by the target date of 30th June 2021.

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Bangalore International Airport Limited

This bond issue was conceptualized three years back and from then till the bidding date of the bond, we have got valuable support from the entire SBICAP team. After the bidding process, within a short period, the SBI team had finalized all the documents, and given the process considerable momentum. We appreciate their tremendous efforts, and look upon them as a part of the AMC family.

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Ahmedabad Municipal Corporation

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