SBICap eyes additional stake in Investec, says CEO Mehta
SBI Capital Markets Ltd (SBICap) will look to raise its stake in financial services firm Investec Capital Services (India) Pvt. Ltd if the Reserve Bank of India (RBI) permits, chief executive Arun Mehta said.
SBICap, a unit of India’s largest lender State Bank of India (SBI), recently bought an undisclosed stake in the Indian franchisee of Investec Investments (UK) Ltd. “Investec has more than adequate relationships, and that has given us the required edge in institutional sales. Being a subsidiary of SBI gives us an edge in origination of the mandates, as the brand value and trust in the brand impact us positively, even though we have to do things at an arm’s length,” Mehta said in an interview.
He said SBICap has the necessary expertise on the execution side of the business as well. According to Mehta, the tie-up…