SBI Capital Markets Limited, the merchant banking subsidiary of State Bank of India, is eyeing the twin accounts of Hindustan Petroleum Corporation Limited and Bharat Petroleum Corporation Limited for managing the divestment programmes of the two oil companies.
Chairman of SBI Caps D P Roy said that the company, which had successfully handled the divestment programme of Videsh Sanchar Nigam Ltd, will again make a presentation before the ministry of divestment for the two prestigious accounts of HPCL and BPCL.
While SBI Caps will make a presentation for becoming global advisors for HPCL, the company was also keen to become a merchant banker to the BPCL market offering, Roy said.
Besides VSNL, SBI Caps was also involved in several other divestment programmes of the Centre like the Shipping Corporation of India, Balmer Lawrie & Co, Hindustan Newsprint Limited, Cement Corporation of India and Mecon.
Besides SBI, which holds 84 per cent in SBI Caps, Asian Development Bank controls 16 per cent stake in the merchant banking firm.
