Mizuho Securities to acquire majority stake in India’s Avendus Capital

Mizuho Securities, a subsidiary of Mizuho Financial Group, has agreed to get much than 60% shares of Avendus Capital, an India-based organization fiscal services firm.

Under the agreement, Mizuho volition acquisition shares from Avendus Capital’s bulk shareholder, Redpoint Investments, an affiliate of KKR, on with Avendus co-founder and enforcement vice president Ranu Vohra.

The transaction, which is taxable to regulatory approvals, volition spot Avendus go a consolidated subsidiary of Mizuho Securities upon its completion.

Vohra volition proceed successful his existent presumption until the woody receives each indispensable approvals.

Avendus founders Gaurav Deepak and Kaushal Aggarwal, on with the existing team, volition proceed to pb Avendus, maintaining the firm’s existent strategy and marque identity.

Avendus Group co-founder and CEO Gaurav Deepak said: “As we physique connected the instauration we’ve laid implicit the past 26 years, we are delighted to denote a semipermanent strategical concern with Mizuho successful our adjacent signifier of growth.

“Together, we look guardant to bringing innovative superior solutions to the Indian ecosystem, and leveraging our complementary strengths to make deeper fiscal and economical flows betwixt India and Japan.

“Ranu has been an integral portion of gathering Avendus. All of america astatine Avendus are profoundly grateful for his contributions and privation him the champion arsenic helium moves into his adjacent chapter. We besides convey KKR for their decade-long concern and unwavering enactment successful Avendus’ transformation.”

Avendus provides services successful organization equities, wealthiness absorption and plus management, with a beingness successful the Indian mergers and acquisitions market.

Through this acquisition, the institution volition summation entree to Mizuho’s organization web and planetary scale, portion retaining its operational individuality and brand.

Mizuho Financial has a home web successful Japan serving implicit 20 cardinal retail clients and astir 80% of listed companies.

The radical operates much than 100 offices extracurricular Japan and offers a scope of firm and concern banking services.

With firm and concern banking (CIB) arsenic its halfway concern area, the steadfast expanded its planetary operations done acquisitions, including the 2023 acquisition of Greenhill & Co.

Mizuho said that the acquisition of Avendus would fortify its presumption successful India’s superior markets and enactment its clients’ interests successful expanding into the Indian market.

Last month, Bloomberg reported that Mizuho Financial is assessing opportunities to grow its concern banking operations successful India, with the volition to use its acquisition successful firm advisory and concern from different regions.