BENGALURU, India | 1st February 2023: SBI Capital Markets Limited (SBICAPS), a wholly owned subsidiary and investment banking arm of State Bank of India (SBI) on Monday announced the opening of its office in Bengaluru. Inaugurated by Shri Dinesh Khara, Chairman, SBI, in the presence of Shri Swaminathan J, Managing Director (CB & Subsidiaries), SBI and Shri Amitava Chatterjee, Managing Director & CEO, SBICAPS, the new office will focus on nurturing and giving a boost to the start-up ecosystem while also focusing on relevant opportunities across infrastructure, real estate and defence sectors of the state.
This comes close to the heels of the first ‘State-of-the-Art’ dedicated SBI branch for start-ups in Bengaluru, Karnataka, that was launched in August 2022. SBICAPS currently has its Corporate Office in Mumbai with regional offices in New Delhi, Kolkata, Chennai, Hyderabad and Ahmedabad.
Speaking at the inauguration Shri Dinesh Khara, Chairman, SBI, said, “Bengaluru city is the silicon capital of the country and hub for big IT firms, entrepreneurs and start-ups, 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 Government of Karnataka was the first Indian state government to establish a dedicated Start-up Cell to promote its ecosystem. Bengaluru stays way above any other city, being the cradle with around 30 of the 100 Unicorns of India. SBICAPS presence here will complement SBI’s efforts and vision to tap the start-up ecosystem as well as wider corporate opportunities in financing”.
Shri Swaminathan J, Managing Director (CB & Subsidiaries), SBI stated, “There are 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. Both SBI & SBICAPS have been working together to tap this and SBICAPS’ dedicated presence in Bengaluru is a step forward in strengthening this association”.
Shri Amitava Chatterjee, Managing Director & CEO, SBICAPS added, “At SBICAPS, we provide Complete Investment Banking Solutions for economic development of the Nation and the decision to select Bengaluru for coverage of Southern India thus included 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 start-up eco-system. Our dedicated Regional Office will assist in the seamless connectivity and delivery of investment banking solutions across the life cycle of businesses based here”.
SBICAPS Bengaluru Regional Office is located at 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.
