SBICAP Trustee Company

What SBICAP Trustee Company does

SBICAP Trustee Company Limited (STCL) is a wholly-owned subsidiary of SBI Capital Markets Limited, which in turn is wholly-owned by State Bank of India. Incorporated on 28 December 2005 with effective operations from 1 October 2008 and SEBI Debenture Trustee registration obtained on 7 October 2010 (Registration Number IND000000536), STCL positions itself as a diversified fiduciary services platform operating across both SEBI-regulated and non-regulated lines. The SEBI-regulated franchise centres on Debenture/Bond Trustee services for listed debt securities and AIF Trustee services. The non-regulated suite spans Security Trustee, Security Agent, Share Pledge Trustee, Debenture/Bond Trustee (Unlisted), Escrow Trustee, Safe Keeper, Securitisation, Facility Agent, MyWill Services, ESOP Trustee, Virtual Data Room (VDR), and Ancillary Services (title search, valuation, insurance, legal opinions). The proprietary technology is the VDR platform, described as a series of proprietary extranets providing watermarked, timestamped, access-controlled online document repository with AES 256 encryption and SHA 2 password protection, primarily used for M&A, project financing, and loan syndication. Distribution is enterprise field sales via direct relationship management with banks, NBFCs, and corporate issuers, delivered through 10+ branch offices (Mumbai, New Delhi, Chennai, Kolkata, Hyderabad, Bengaluru, Ahmedabad, Patna, Jaipur, Chandigarh, Bhubaneshwar) and 25+ safe keeper locations leveraging SBI strongrooms. STCL's revenue model is fee-based across transaction fees on trustee mandates, managed services for custody/VDR, and professional services for MyWill and ancillary; pricing is relationship-based and not publicly disclosed. Networth has grown from Rs. 50 Crores (March 2016) to Rs. 200 Crores (September 2024). Marquee clients include Adani, TATA, Indian Oil Corporation, Indian Railway Finance Corporation, National Highways Authority of India, Air India, Bajaj, HUDCO, ONGC MRPL, REC, JSW, BPCL, Edelweiss, Canara Bank, Aditya Birla Group, Punjab National Bank, and Mahindra.

Name

SBICAP Trustee Company

Legal name

SBICAP Trustee Company Limited

Website

https://sbicaptrustee.com

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

251–500 employees

Short description

SBICAP Trustee Company Limited, a wholly-owned subsidiary of SBI Capital Markets Limited within the State Bank of India group, is a SEBI-registered Debenture Trustee providing corporate trusteeship, security trusteeship, AIF trustee, safe keeper custody, VDR, and ancillary fiduciary services to Indian banks, NBFCs, and large corporate issuers.

Ownership category

akta.pro rank

Product category

Trusteeship Services

NAICS

Trust, Fiduciary, and Custody Activities (523991)

SIC

Finance Services (6199)

akta.pro primary industry

Fiduciary Agency & Trustee-for-Hire Services (FSAAANAL)

akta.pro secondary industries

Structured Finance Legal, Trustee & Administration (FSACACAJ), Fund Depositary (UCITS/AIFMD & Trustee Oversight) (FSAAAOAC)

Keywords

• Trusteeship services
• Debenture trustee
• Security trustee
• Alternative investment funds
• Virtual data room

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices10 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Debenture/Bond Trustee Services: Trustee services for listed and unlisted debt instruments, acting as independent safeguard for investors ensuring compliance with statutory requirements and protecting interests of debenture/bond holders
2. AIF Trustee Services: Trustee services for Alternative Investment Funds including vetting of private placement memorandum, execution of Indenture of Trust, and monitoring work
3. Security Trustee Services: Security trusteeship appointed by lenders while extending finance on multiple arrangement basis with common security
4. VDR Services: Virtual Data Room services for M&A transactions, project financing, loan syndication, asset reconstruction, providing secure document sharing platform
5. Safe Keeper Services: Custody of original documents including title deeds, share certificates on behalf of lenders/investors through SBI strongrooms across India
6. MyWill Services: Online will drafting and management services providing comfort of technology, information support and services from legal experts
7. ESOP Trustee Services: Fiduciary services for ESOP plans including documentation, beneficiary data maintenance, regulatory compliance, and risk mitigation

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

SBICAP Trustee Company Limited is a SEBI-registered debenture trustee providing trusteeship and fiduciary services for listed and unlisted debt instruments, alternative investment funds, security trusteeship, escrow, safe-keeping of documents, securitisation, facility agency, ESOP trusteeship and online will drafting, supported by a proprietary Virtual Data Room for secure document sharing in M&A and financing transactions.

Product overview

SBICAP Trustee Company Limited (STCL) operates as a diversified trustee services platform offering both SEBI-regulated and non-SEBI regulated financial services. The core platform consists of two SEBI-regulated services: Debenture/Bond Trustee (Listed) for listed debt securities and AIF Trustee for Alternative Investment Funds. The non-SEBI regulated suite includes Security Trustee, Security Agent, Share Pledge Trustee, Debenture/Bond Trustee (Unlisted), Escrow Trustee, Safe Keeper, Securitisation (DA/Unlisted PTC), Facility Agent, ESOP Trustee, and My Will Services. Supporting these core offerings are VDR Services (secure document repository) and Ancillary Services (title searches, valuations, insurance). The company also provides investor grievance redressal services for both regulated and non-regulated offerings. Services are delivered through pan-India branch offices in Mumbai, New Delhi, Chennai, Kolkata, Hyderabad, Bengaluru, and Ahmedabad.

Differentiator

Problem solved

Functional benefit

Products and services

• Debenture/Bond Trustee (Listed) SEBI-regulated trustee service for listed debt securities with tenure of 12 months or more, ensuring statutory compliance, monitoring of interest and redemption payments, DRR maintenance oversight, and protection of debenture/bond holder interests.
• AIF Trustee SEBI-regulated trustee service for Alternative Investment Funds covering vetting of private placement memoranda, execution of Indenture of Trust, and ongoing monitoring for AIFs channelising investments into infrastructure and other permitted sectors.
• Security Trustee Trusteeship service appointed by lenders/financers on multiple arrangement basis with common security shared across lenders with varying individual sanction terms.
• Security Agent Agency service assisting in security creation procedures, obtaining documents of title, arranging valuations, ensuring stamp duty compliance, vetting documents and creating security in favour of lenders.
• Share Pledge Trustee Trusteeship service for creation of pledge over shares (demat or physical) held as security on behalf of lenders, including monitoring of share valuations and advising on topping up or release of pledged securities.
• Debenture/Bond Trustee (Unlisted) Non-SEBI regulated trustee service for unlisted debt instruments ensuring contractual compliance and investor protection with customised reporting and oversight per transaction-specific agreements.
• Escrow Trustee Neutral third-party escrow agent service that drafts and vets escrow agreements, holds shares, money or assets in escrow accounts, and monitors compliance with escrow terms.
• Safe Keeper Document custody service holding original documents including title deeds, share certificates and wills on behalf of lenders, investors and testators in strongrooms across India through arrangement with SBI.
• Securitisation (DA/Unlisted PTC) Trusteeship service for Pass Through Certificates (PTCs), Securitized Debt Instruments (SDIs) and Direct Assignment transactions covering document facilitation, transaction vetting, rating verification, legal counsel opinions and monthly payout report preparation.
• Facility Agent Professional service bridging lenders and borrowers to ensure compliance with sanction terms, facilitate security document execution, monitor pre-disbursement conditions and operate bank accounts.
• MyWill Services Online will drafting service enabling individuals to create legally valid wills through 6 easy steps with online document review facility, backed by legal expert support and technology-enabled anywhere-anytime access.
• Virtual Data Room (VDR) Secure online repository service for sharing critical business information with external parties in M&A, project financing, loan syndication and asset reconstruction transactions, featuring watermarking, timestamping, restricted access, AES 256 encryption and 24/7 global accessibility.
• ESOP Trustee Fiduciary service acting as legal guardian of ESOP plan assets covering planning and execution of ESOP documentation, maintenance of beneficiary records, regulatory compliance and conflict resolution.
• Ancillary Services Additional support services including title search reports, valuation reports, insurance policy arrangements, enforceability opinions, NOC assistance and legal/forensic audits for banks and financial institutions.

Quantifiable outcome

• Networth grew from Rs. 50 Crores (2016) to Rs. 200 Crores (2024)
• +1 more outcomes

Named customers17 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Two partnerships are on record, tiered core.

• State Bank of IndiacoreOthersUltimate holding company of SBICAP Trustee Company Limited. STCL is a wholly-owned subsidiary of SBI Capital Markets Limited, which is wholly owned by State Bank of India. SBI provides institutional backing, brand credibility, and infrastructure support including strongroom facilities for document storage.
• SBI Capital Markets LimitedcoreOthersDirect parent company - wholly-owned subsidiary of SBICAP Trustee Company Limited. STCL operates as part of SBICAP group providing trusteeship and related services.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Debenture Trusteeship Private Limited: SEBI-registered debenture trustee providing debenture/bond trustee and security trustee services to Indian corporates and financial institutions — a direct niche competitor in the same regulatory segment as SBICAP Trustee.
• Axis Trustee Services Limited: Subsidiary of Axis Bank offering debenture trustee, security trustee, and escrow services across India. Competes head-to-head with SBICAP Trustee for SEBI-regulated debt trustee mandates and non-regulated security trustee mandates.
• Catalyst Trusteeship Limited: SEBI-registered debenture trustee providing debenture trustee, security trustee, and related fiduciary services to Indian corporates and lenders — comparable in scale, service mix, and customer base to SBICAP Trustee.
• IDBI Trusteeship Services Limited: One of the largest and oldest SEBI-registered debenture trustees in India, providing debenture trustee, security trustee, and allied fiduciary services to corporates and financial institutions — directly comparable product offering and target market as SBICAP Trustee.
• Vistra ITCL (India) Limited: Part of Vistra Group (formerly IL&FS Trust Company), one of India's largest trusteeship service providers offering debenture trustee, security trustee, facility agent, and escrow services across Indian debt markets.

Emerging players

• GVFL Trustee Company Limited: Trustee company affiliated with GVFL (Gujarat Venture Finance), providing trustee services primarily for AIFs and venture capital funds — narrower mandate focused on alternative investment fund trusteeship, partial overlap with SBICAP Trustee's AIF Trustee offering.

Broad incumbents

• National Securities Depository Limited (NSDL): India's largest securities depository, providing custody, demat, and asset-servicing infrastructure. Indirectly comparable to SBICAP Trustee through share pledge custody and safe keeper services for institutional clients.
• Central Depository Services (India) Limited (CDSL): One of India's two central securities depositories, providing custody, demat, and related services. Adjacent rather than directly competing, but its share pledge and securities custody infrastructure overlaps with SBICAP Trustee's Share Pledge Trustee and Safe Keeper services.
• Stock Holding Corporation of India Limited: Public-sector custodial services and depositary participant offering trustee-related, custody, and asset-servicing solutions across India. Overlaps with SBICAP Trustee's safe keeper/custody business but operates as a broader, publicly-listed financial services platform.

Regional players

• MUFG Investor Services (India) / Link Intime (India) Private Limited: India-focused share registry, transfer agent, and debenture trustee service provider competing for share registry and trustee mandates on Indian capital markets — adjacent service offering with overlap on debt trustee-related administration.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights3 records

Customer concentration

• Facebookfacebook.com/SBICTCL

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SBICAP Trustee Company