SBI Cap to float VC company

SBI Capital Markets, State Bank of India's investment banking subsidiary, plans to float a venture capital company "" SBI Capital Fund "" for investments in mid-cap companies, emerging sectors and infrastructure.

Indrajit Gupta, managing director and CEO of SBI caps, said SBI Caps is in talks with three international banks for raising funds.

The company is also in the process of setting up a fund to rejuvenate the tea and coffee gardens so as to improve the quality of products. This is being done in consultation with the tea and coffee board . It has already completed privatisation of the logistics operations of the Food Corporation of India.

SBI Caps currently has on hand project finance syndication deals of over Rs 40,000 crore including $600 million for projects abroad.

Further, it is pursuing Rs 91,000 crore of fund raising mandates for roads, ports, oil and gas and aviation.

Some of the major projects mandated to SBI Caps include Chhattisgarh Electricity Board, Tata Power, Bharat Oman project in Bina, Madhya Pradesh.

Overseas projects include setting up of information technology park in China, and civil aviation project for the government of Maldives.