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oil-gas

Oil & Gas

SBICAP has been at the forefront of successful transactions for premier Oil & Gas businesses. We offer project appraisal, fundraising, financial advisory, valuation, and M&A advisory services, across the industry value chain.

Driving The Energy Sector’s Progress

The Oil and Gas sector plays a key role in India’s economic progress, with the country being a growing energy market as well as an emerging global refining hub. SBICAP is well-poised to guide energy companies as they look to capitalise on the opportunities in this emerging scenario. 

We have undertaken assignments for project appraisal and fundraising for greenfield and brownfield expansion, financial advisory, valuation, and M&A advisory for several leading names in the oil and gas sector. We provide these services across the value chain:

  • Upstream (exploration and production of oil and gas).
  • Midstream (pipelines, LNG terminals, city gas distribution). 
  • Downstream (refining and marketing). 

We have the unique distinction of successfully achieving financial closure on project finance basis for greenfield and brownfield expansion of refinery projects, LNG terminals, fertilizer plants, and city gas distribution projects implemented in India during the past 15 years. 

Key projects undertaken in the segment include:

  • Debt syndication for reputed industry players such as HPCL Rajasthan Refinery Limited, Bharat Petro Resources Limited, Indian Oil Corporation Limited, for refinery works. 
  • Financial advisory and debt syndication efforts for setting up an LPG pipeline for IHB Limited.
  • Debt syndication and re-phasement of existing debt for fertilizer plants for Hindustan Urvarak & Rasayan Limited.

Some of the clients we have worked with

Bharat Petroleum Corporation Limited

Hindustan Urvarak and Rasayan Limited

HPCL Rajasthan Refinery Limited (HRRL)

GAIL

Kesani Enterprises Company Limited (Kesani)

Select Transactions

Bharat Petro Resources Limited
Value: USD 950 Mn
Financial Advisor & Debt Arranger
2019
Hindustan Urvarak and Rasayan Limited
Value: INR 15,820 Cr
Financial Appraisal & Debt Syndication
2019
HPCL Rajasthan Refinery Limited (HRRL)
Value: INR 28,753 Cr
Sole Financial Advisor & Debt Arranger
2019
Kesani Enterprises Company Limited (Kesani)
Value: USD 12.9 Bn
M&A, Financial Advisory
2017

Strategic Partner For Energy Businesses

SBICAP has led several successful transactions for premiere agencies in this sector. We have handled domestic as well as offshore bond issuances for some of the biggest names, including Indian Oil Corporation Limited, Oil and Natural Gas Corporation Limited, Bharat Oman Refineries Limited, Bharat Petroleum Corporation Limited, Hindustan Petroleum Corporation Limited, Chennai Petroleum Corporation Limited and Mangalore Refinery Petrochemicals Limited

We have set trailblazing records in the offshore bond market. We successfully placed the Dollar-denominated bonds of Oil and Natural Gas Corporation Limited in 2019 with the tightest coupon for 10 years or longer tenor offering from India.

Our team raised USD 900 million for IOCL which was the largest USD bond issuance in Reg S format from the Indian Oil & Gas sector. The issue was oversubscribed 3.5 times with an order book of USD 3.2 billion over 200 accounts. We have successfully placed the maiden dollar bond of HPCL which was oversubscribed 5.3 times and it was the tightest priced 10-year USD bond issue from the Indian Oil & Gas sector at the time. Our bond issue for BPCL was also oversubscribed 6 times and achieved an extremely tight new issue premium of 10 bps.

Some of the clients we have worked with

Indian Oil Corporation Limited

BPCL

NCL India Limited

Oil and Natural Gas Limited

Chennai Petroleum Corporation Limited

Mangalore Refinery Petrochemicals Limited

Select Transactions

Indian Oil Corporation Limited
Value: INR 2,000 Cr
Domestic Private Placement Deal
2020
BPCL
Value: USD 500 Mn
Foreign Currency Bonds
2019
Indian Oil Corporation Limited
Value: USD 900 Mn
Joint Book Runner and Joint Lead Manager
2019
NLC India Limited
Value: 1,475 Cr
Private Placement of NCDs
2019
Oil and Natural Gas Limited
Value: USD 300 million
FCB
2019

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