# SBI Capital Markets

SBI Capital Markets is a Private Equity based in Mumbai, India.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Mumbai, India
- **Region:** Asia
- **Address:** Mumbai, India
- **Founded:** 1986
- **Assets under management:** Undisclosed
- **Website:** sbicaps.com
- **LinkedIn:** https://www.linkedin.com/company/sbi-capital-markets
- **Wikidata:** Q7388952

## Regulatory record

- **Reports private funds:** No

## About

SBI Capital Markets Limited (SBICAPS) is a leading investment banking and financial services organization in India. It provides services in investment banking, capital markets, project advisory, and structured finance. SBICAPS is registered with SEBI as a Category I Merchant Banker and Research Analyst and offers a complete bouquet of investment banking and corporate advisory services.

## Sectors

- Financial Services
- Infrastructure
- Real Estate
- Energy Transition & Renewables
- Industrial Tech

## People

- Virendra Bansal — Managing Director & CEO
- Shesh Verma — President & COO
- Santosh Sankaradasan — Executive Vice President- Project Advisory and Structured Finance
- Amrendra Singh — SVP & Group Head, Equity Capital Markets

## Questions

### Who runs investment decisions at SBI Capital Markets?

Virendra Bansal serves as Managing Director and CEO, with Shesh Verma as President and COO. Santosh Sankaradasan heads Project Advisory and Structured Finance as Executive Vice President, and Amrendra Singh joined in March 2025 as SVP and Group Head of Equity Capital Markets. The firm operates as a merchant bank — its deal decisions are made by these senior executives under the governance of SBI's board.

### How is SBI Capital Markets related to State Bank of India?

SBI Capital Markets is a wholly owned subsidiary of State Bank of India, India's largest public-sector bank. The parent relationship provides a steady pipeline of corporate clients, a balance sheet backstop, and preferred access to SBI's lending relationships across India. SBICAPS functions as the investment banking and advisory extension of that franchise.

### Does SBI Capital Markets invest its own capital or function purely as an advisor?

SBICAPS operates primarily as a fee-based investment bank and project advisor. It does not manage third-party assets or run a proprietary book in the sense of a fund. The firm structures and distributes debt, equity, and hybrid instruments, and advises on M&A and project finance, but the capital deployed in transactions comes from external investors, banks, and public markets.

### What types of deals does SBICAPS typically lead?

The firm dominates large-cap Indian ECM transactions and infrastructure project finance. It was Left-Lead Banker on the INR 4,011 crore NSDL IPO and the INR 15,512 crore Tata Capital IPO in 2025, and bookrunner on State Bank of India's INR 25,000 crore QIP — India's largest. In project finance, it acted as Sole Financial Advisor and Mandated Lead Arranger for INR 18,300 crore for Pune Ring Road and INR 13,200 crore for Jalna Nanded Expressway.

### What is SBI Capital Markets' known posture on cross-border transactions?

While primarily India-focused, SBICAPS has selectively executed cross-border mandates. In October 2024 it structured Bhutan's first Hydropower Receivables Securitization Loan for Druk Green Power Corporation. The firm's project finance team also advises on international airport and energy projects, though the majority of its $141.53 billion raised over the past three years came from domestic markets.

## Related profiles

- [SBI Capital](https://altss.com/profile/sbi-capital)
- [SBI Ventures](https://altss.com/profile/sbicap-ventures)

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Last updated: 2026-08-11T15:08:04.536Z

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