SBI Capital Markets

Last updated
SBI Capital Markets
FoundedAugust 1986
Headquarters
Mumbai
,
India
Area served
India
Key people
Arundhati Bhattacharya, MD & CEO
Rajeev Krishnan, President & COO [1]
ServicesCorporate finance
Website www.sbicaps.com

SBI Capital Markets (SBICAPS) is an investment bank founded in August 1986. It is a wholly owned subsidiary of State Bank of India (SBI). [2]

Following the crash in MS Shoes share prices in March 1995, the Central Bureau of Investigation (CBI) started an investigation. In June 1997 the CBI sought permission from the government to lay charges against senior officials of the Securities and Exchange Board of India and SBI Capital Markets. The CBI alleged that senior officials had violated many guidelines and in the process had cheated investors. [3]

In January 1997 the Asian Development Bank acquired a 13.84% equity stake in SBICAPS. This share was repurchased by State Bank of India in March 2010. [4] In January 2006 SBICAP and the international investment banking group CLSA announced a two-year partnership to work on large joint deals in equity capital and mergers & acquisitions. [5] In September 2006 SBI Caps announced that it had set up a $100 million venture fund in partnership with the venture capital division of SBI Holdings of Japan. [6]

Air India ran into serious financial difficulties, and in July 2009 SBICAPS was asked by Civil aviation minister Praful Patel to prepare a road map to bring the carrier back into profitability. [7] SBI Capital was appointed the mandated firm to restructure Kingfisher Airlines loans during the Kingfisher Airlines financial crisis, starting in 2010. In February 2012 SBSCAP and other bank lenders were insisting that commissions paid to promoters be reversed before they would consider providing further funding to the still-troubled airline. [8]

In October 2006 R Sridharan was appointed managing director and CEO of SBI Capital. [9] In July 2009 SBICAPS announced that S. Vishvanathan had replaced A.P. Verma as MD & CEO. Vishvanathan had joined SBI in 1976, had helped set up SBI's New York branch, and had been chief general manager of SBI’s North Eastern operations. [10]

References

  1. ↑ "About Us – Key Personnel". SBI Caps. Retrieved 2012-09-25.
  2. ↑ "About Us". SBI Capital Markets. Retrieved 2012-05-01.
  3. ↑ Gargi Chakrabarty (June 19, 1997). "CBI cracks down on SBI Caps, Sebi officials in MS Shoes case". Business Standard. Retrieved 2012-05-01.
  4. ↑ "Sbi Capital Markets Limited". IndiaMart. Retrieved 2012-05-01.
  5. ↑ "SBI Capital Markets and CLSA enter Investment Banking Alliance". CLSA. January 19, 2006. Retrieved 2012-05-01.
  6. ↑ "SBI Capital Markets launches new funds". IIPM. September 12, 2006. Retrieved 2012-05-01.
  7. ↑ "SBI Caps prepares roadmap for Air India restructuring". DNA. Jul 22, 2009. Retrieved 2012-05-01.
  8. ↑ "SBI asks Kingfisher Airlines to reverse about Rs 100 crore paid to Vijay Mallya and UB Holdings". The Economic Times. Feb 18, 2012. Retrieved 2012-05-01.
  9. ↑ "Sridharan assumes charge as SBI Capital Markets CEO". OneIndia. October 16, 2006. Retrieved 2012-05-01.
  10. ↑ "SBI Capital Markets Appoints S Vishvanathan As MD & CEO". VCCircle. July 22, 2009. Retrieved 2012-05-01.
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