Hi Janos / Experts,
Thanks for your inputs. I have applied separately the stand alone patch p9584028. I got the directory 'sap'.
There was the issue with ORACLE_HOME as well. Manually set it to /oracle/SID/11203 and installed the opatch 9584028. After that, i have updated the SBP as well.
Now the upgrade is done successfully.
Thanks for all your inputs.