SBI mulls raising stake in investment banking JV to 51% amid capital market boom

Mumbai: The State Bank of India is weighing a plan to take control of its investment-banking joint venture (JV) with Investec India, according to two people familiar with the matter. The move comes as India’s largest lender seeks to strengthen its deal-making and distribution capabilities in the midst of a multi-year boom in the country’s equity capital markets. SBI is considering raising its stake to 51% from about 20% after an earlier attempt to raise the stake to 40% was rebuffed by the Reserve Bank of I ...