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A wholly owned subsidiary and the investment banking arm of State Bank of India
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Expertise

SBI Capital Markets enables clients to meet their strategic and financial objectives through its complete bouquet of investment banking and corporate advisory services.

  • INR 4,39,705 crores
    Deal Volume raised over the past three years
  • 27
    Team Members
  • 12
    Sectors

SBICAPS Our Debt Capital Markets (DCM) team is one of the leading arrangers for funds raised through the domestic Debt Capital Market and has been among the top 5 arrangers in the Bloomberg Domestic Debt League Table for the last few years. Along with bespoke advisory services, we offer a range of fixed income solutions and innovative products, developed to suit specific client requirements.

Our offerings

  • Fundraising Advisory
  • Private Placement Of Fixed Income Securities
  • Public Issue of Bonds
  • Offshore Bonds
  • Structured Solutions
  • Municipal Bonds
  • Asset Monetisation
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  • Fundraising Advisory

    SBICAPS offers comprehensive advisory services to clients for fundraising. Our services include formulation of fundraising strategy, deciding timelines, preparing marketing materials, identifying and approaching investors, conducting due diligence, assisting in negotiating the term sheet, and closing the transaction.

  • Private Placement Of Fixed Income Securities

    SBICAPS is a leading arranger in the domestic debt capital market for the private placement of fixed income securities such as Non-Convertible Debentures (NCDs)/Bonds and commercial papers. Our clients include corporates, Non-Banking Financial Corporations (NBFCs), banks, financial institutions, municipal corporations, and central/state government undertakings

  • Public Issue of Bonds

    Apart from private placement of debt instruments, SBICAPS also offers public issue of fixed income securities such as taxable Non-Convertible Debentures (NCDs) and tax-free bonds.

  • Offshore Bonds

    SBICAPS provides world-class solutions at par with leading global banks to issuers raising foreign currency bonds and rupee denominated offshore bonds, in partnership with the State Bank of India. We have consistently been ranked among the top domestic banks in the issuance of Foreign Currency Bonds and have the required technical expertise to assist companies in expanding their funding mix by tapping into foreign markets.

  • Structured Solutions

    In addition to plain vanilla bonds, SBICAPS also assists companies in accessing various debt structures like credit enhanced bonds, structured obligations, securitized debt, covered bonds, and PTCs (Pass Through Certificates).

  • Municipal Bonds

    SBICAPS has been at the forefront of the municipal bond market in India. We were a part of the COBOSAC (Corporate Bonds and Securitisation Advisory Committee) which laid down the regulatory framework for issuance of debt securities by municipalities. We hold the distinction of executing the maximum number of municipal bond issuances in India, including the first municipal bond issuance in 2017 under the new SEBI guidelines, for Pune Municipal Corporation.

  • Asset Monetisation

    The SBICAPS Debt Capital Markets group is reinventing the fixed income landscape through innovative and structured transactions across sectors. We work closely with leading corporates and government agencies, and liaison with regulators to help clients free up locked capital and explore new possibilities for financial growth.

Why Us?

With several award-winning deals and unmatched execution capabilities, we are the preferred financial advisors for corporates, Non-Banking Financial Corporations (NBFCs), banks, financial institutions, multilateral agencies, municipal corporations, and central/state government undertakings.

  • Deep understanding of the market

    Our strong technical expertise and deep knowledge of the financial markets help us steer complex transactions to success. Our clients rely on us to handle challenging mandates and develop the right strategies to address new and unprecedented requirements.

  • Pioneers in innovative products

    We have spearheaded the development of many innovative debt instruments and have the distinction of being the first to launch several initiatives – such as issuance of the first metro rail bond, first municipal bond, the first Maharaja bond, etc.

  • Regulatory expertise

    Our team members are part of various regulatory committees and panels, and constantly advise law makers, thus shaping India’s regulatory landscape. This positions us to correctly assess, understand, and advise on regulatory aspects of deals.

  • Strong investor relationships

    Our long-standing investor relationships and ability to structure complex transactions give our products and solutions an edge in the debt capital markets space.

Sectors We Work With

Case studies

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Recent transactions

Recent Transactions

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Bangalore Metro Rail Corporation Ltd
Advisory for Buy Back of NCDs
2023
National Bank For Financing Infrastructure And Development
Value: INR 19,516 Cr.
Domestic Private Placement Deals
2023
India Grid Trust
Value: INR 670 Cr.
Qualified Institutional Placement of units
2023
Nexus REIT
Value: INR 1,000 Cr.
Domestic Private Placement Deals
2023
State Bank Of India Infrastructure Bonds
Value: INR 29,718 Cr.
Domestic Private Placement Deals
2023
State Bank Of India AT1 &Tier II Bonds
Value: INR 21,362 Cr.
Domestic Private Placement Deals
2023
View All Transactions

Industry Accolades

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Ranked No. 4 - Domestic Debt Issuances

Bloomberg FY 2022

Best Quasi Sovereign Bond, India

The Asset Triple A Infrastructure Awards 2020

First Municipal Bond after 14 years

Pune Municipal Corporation

Maiden Green Bond

Power Finance Corporation

Maiden Masala Bond

National Highways Authority of India

Ranked No. 3 - Domestic Private Placement of Bonds

Bloomberg 2020
View All Accolades

Team

We combine a dedication to meeting our clients’ needs with a commitment to our people. We are looking for exceptional talent to join our team.

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Group Head
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What Our Clients Say

The punctuality, approach, and teamwork shown by the SBICAPS team is outstanding. Shri Nirav Acharya and Smt. Dipal Talsania have offered accurate and timely advice which enabled us to complete the due process of issuing municipal bonds in a short period with excellent output.

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Surat Municipal Corporation

We gratefully acknowledge the support Team SBICAPS has extended in obtaining the sanctions from the investors and helping BIAL conclude the NCD documents. We also thank you all for your patience and sustained efforts to take the transaction to conclusion through the last few weeks. It is only because of all these efforts that we could sign the documents and issue the NCDs and prepay the loan by the target date of 30th June 2021.

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Bangalore International Airport Limited

This bond issue was conceptualized three years back and from then till the bidding date of the bond, we have got valuable support from the entire SBICAPS team. After the bidding process, within a short period, the SBI team had finalized all the documents, and given the process considerable momentum. We appreciate their tremendous efforts, and look upon them as a part of the AMC family.

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Ahmedabad Municipal Corporation

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