December 04, 2016 12:13 PM ET

IT Services

Company Overview of GE Capital Business Processes Management Services Ltd.

Company Overview

GE Capital Business Processes Management Services Ltd. handles the technology and processing needs of SBI Card. The company was founded in 1998 and is based in Gurgaon, India. GE Capital Business Process Management Services Ltd. operates as a subsidiary of IGE USA Investments.

No. 90A Udyog Vihar

Sector-18

Gurgaon,  122015

India

Founded in 1998

Key Executives for GE Capital Business Processes Management Services Ltd.

GE Capital Business Processes Management Services Ltd. does not have any Key Executives recorded.

GE Capital Business Processes Management Services Ltd. Key Developments

GE Cap's Reportedly Looking To Sell

Mizuho Financial Group, Inc. (TSE:8411) & Credit Saison Co. Ltd. (TSE:8253) keeps eye to acquire stakes in GE Capital Transportation Financial Services Ltd stakes in two companies named SBI Cards & Payment Services Private Limited and GE Capital Business Processes Management Services Ltd. Carlyle is also among the shortlisted bidder for stakes that GE Capital holds in two different companies.

Global PE Funds Reportedly Shortlisted For GE Stake In SBI Card

KKR & Co. L.P. (NYSE:KKR), Bain Capital, LP, General Atlantic LLC and five other investors have been shortlisted for the purchase of General Electric Capital Corporation’s stake in a credit card joint venture with State Bank of India (NSEI:SBIN), according to two people close to the development. SBI Card operates through two companies: SBI Cards and Payment Services Private Limited and GE Capital Business Processes Management Services, and as per the sources, GE Capital will sell its stake in both entities. Also, as per the people, the potential investors include Baring Private Equity Asia, Warburg Pincus LLC, DBS Bank Ltd and Temasek Holdings (Private) Limited. Morgan Stanley is advising GE Capital on the deal while SBI is being advised by Barclays Plc.

State bank Of India Exploring Various Possibilities To Find a Replacement For GE Capital's Joint Venture Partner

State Bank of India (NSEI:SBIN) is exploring various possibilities to find a replacement for GE Capital, its joint venture partner in SBI Card. GE Capital owns 40 per cent stake in the business, and the remaining is owned by SBI. SBI is exploring three options, including buying back the entire 40 per cent stake of GE Capital. Other options are selling GE Capital''s stake to another investor through a private placement and going for a public issue. There are reports that private equity funds such as KKR, Bain Capital and Baring Asia are weighing options to buy stake in the company. Besides, Tata Capital is also looking at the option. "Work is in progress. No decision has been taken on SBI Card yet," Arundhati Bhattacharya, Chairperson of State bank Of India, told PTI. It is part of GE's global plan to exit from the finance business, she said, adding that it is nothing new. As per an agreement between SBI and GE Capital at the time of formation of SBI Card, it was decided that whenever any party decides to exit the JV, the decision has to be on the basis of mutual understanding.

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