SBICAP repeats performance as best value provider in IPO's

New Delhi, July 20 (UNI) SBI Capital Markets (SBICAP) announced today that its total project finance syndication mandates on hand has crossed Rs 40,000 crore mark, repeating its performance as Best Value Provider in IPOs.

SBICAP also received syndication mandates of more than 600 million dollars, for projects abroad, besides pursuing mandates to the tune of Rs 91,000 crore, mainly in the areas of roads, ports, power, oil and gas and aviation, in India and abroad.

''In the current year we plan to focus on fee and transaction based income, strengthen our retail broking business by foraying into DP services and e-broking; leverage the international business through the UK subsidiary, and further consolidate our market leadership position in project advisory and syndication activity; and adopt robust employees' engagement policies,'' said SBICAP Managing Director and CEO Indrajit Gupta.

Recently SBICAP, syndicated one of the largest project finance deals in the country for Bharat Oman Refinery Ltd (BORL), a special purpose company promoted by Bharat Petroleum Corporation Limited (BPCL) for setting up a 6 MMTPA Greenfield refinery at Bina in Madhya Pradesh and its associated infrastructure comprising crude receiving facilities at Vadinar in Gujarat, a 935 Km long cross country pipeline and a captive power plant of 126 MW.

SBICAP was the sole financial advisor and arranger for this transaction and a consortium of 20 lenders led by the State Bank of India has committed a 14 years project finance term loan aggregating Rs 63,870 million.

Mr Gupta also detailed some of the international mandates that SBICAP is undertaking for Sultanate of Oman, Government of Maldives and in various other countries including China.

UNI VJ ARB DB2005