SBI’s Investment Advisory Arm To Float Rs 100 Crore SME Fund (09-Aug-2010)
SBI Capital Markets, the investment advisory subsidiary of State Bank of India (SBI), is planning to float a dedicated small and medium enterprises (SME) fund with an initial corpus of Rs 100 crore in the next one and half years. The fund will be used to rope in private equity investment in SME, which otherwise is facing shortage of capital for advancing its business growth. As SME's in the country have not received much of interest from private equity players due to low capital base.
SBI Capital Markets is also betting big on advisory services and upcoming FPOs (follow-on public offers) to drive revenue growth this fiscal.Further, the company expects to witness a 60% rise in their revenue to Rs 1000 crore by end of this fiscal on the back of higher earnings from advisory services.
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