SBI Capital Markets opens office in Bengaluru, to focus on startups, infra & defense and startups

By Daisy On Jan 30, 2023

SBI’s investment banking arm SBI Capital Markets (SBI Capital) opened its office in Bengaluru on Monday to focus on nurturing and giving a boost to the startup ecosystem, and focusing on relevant opportunities across infrastructure, real estate and defence sectors of the state, it said in a release.

The company offers services such as project advisory and structured financing, ESG advisory, capital markets products, mergers & acquisitions.

The SBI’s office comes close on the heels of the largest lender opening an exclusive branch for startups at Koramangala in Bengaluru in August, last year. SBI chairman Dinesh Khara opened the office in the presence of colleague and MD Swaminathan J and SBI Capital managing director & chief executive Amitava Chatterjee.

Khara said Bengaluru was a hub for big IT firms, entrepreneurs and startups, across sectors.

“Also, from the perspective of capital markets and portfolio companies of private equity (PE) coverage, Bengaluru offers rich opportunities across diverse industries. The Karnataka government was the first state to establish a dedicated Startup Cell to promote its ecosystem. Bengaluru stays way above any other city, being the cradle with around 30 of the 100 Unicorns of India,” Khara said.

Swaminathan said there were wide opportunities for corporate financing in both the public and private ecosystem, specifically in the real estate, infrastructure, defence and technology sectors, including start-ups in Karnataka.

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“Both SBI & SBICAPS have been working together to tap this and SBICAPS dedicated presence in Bengaluru is a step forward in strengthening this association” he said.Chatterjee added the decision to select Bengaluru for coverage of southern India was guided by opportunities linked to infrastructure and real estate investments, proximity to major players in the defence sector, the role of information technology in national building, and the need to support the startup ecosystem.

SBICAPS currently has its corporate office in Mumbai with regional offices in New Delhi, Kolkata, Chennai, Hyderabad and Ahmedabad. SBICAPS Bengaluru regional office is the sixth regional office located at the Lady Curzon Road and has a designated senior vice-president, who will head the operations and will be responsible for coverage of entire Southern India, the press release added.

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