Karnataka is first Indian state to establish a dedicated Start-up Cell to promote its ecosystem
Mumbai-headquartered SBI Capital Markets Limited (SBICAPS), an investment banking arm of State Bank of India (SBI), has opened an office in Bengaluru to focus on nurturing and giving a boost to the start-up ecosystem as well as relevant opportunities across infrastructure, real estate and defence sectors of Karnataka.
The office follows the August 2022 opening of the first ‘State-of-the-Art’ dedicated SBI branch for start-ups in Bengaluru. SBICAPS currently has its Corporate Office in Mumbai with regional offices in New Delhi, Kolkata, Chennai, Hyderabad and Ahmedabad.
Speaking at the inauguration Dinesh Khara, Chairman, SBI, said on 1 Feb 2023, “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 Karnataka Government 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.”
“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,” added Swaminathan J, Managing Director (CB & Subsidiaries), SBI.
“Both SBI & SBICAPS have been working together to tap this and SBICAPS’ dedicated presence in Bengaluru is a step forward in strengthening this association.”
“Our dedicated Regional Office will assist in the seamless connectivity and delivery of investment banking solutions across the life cycle of businesses based in Karnataka,” elaborated Amitava Chatterjee, Managing Director & CEO, SBICAPS.
“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,” said Chatterjee.
Incorporated in 1986, SABICAPS offers the entire bouquet of investment banking and corporate advisory services. The service bouquet includes Project Advisory and Structured Financing, ESG Advisory, Capital Markets products, Mergers & Acquisitions, Private Equity and Stressed Assets Resolution. fiinews.com
