Mizuho to Acquire Majority Stake in India's Avendus Capital
By Ronnie Harui
Mizuho Securities has agreed to acquire a majority stake in KKR-backed Avendus Capital, a move aimed at strengthening its business in India.
The Mizuho Financial Group subsidiary entered into an agreement with the majority shareholder of Avendus Capital to acquire a stake of over 60% in the Indian investment bank, the Japanese megabank said in a statement Wednesday.
Mizuho is seeking to leverage its majority stake in Avendus Capital to strengthen its position in India's rapidly developing and maturing capital markets, it said.
Avendus's co-founder and executive vice chairman, Ranu Vohra, will also divest his shareholding, and will continue in his current role until completion of the deal, Avendus said in a separate statement.
Founders Gaurav Deepak and Kaushal Aggarwal will continue to lead Avendus, the Indian company added.
Shares of Mizuho Financial Group were 1.3% higher at 5,714 yen, equivalent to $36.93, at the midday break in Tokyo on Wednesday.
Write to Ronnie Harui at ronnie.harui@wsj.com
(END) Dow Jones Newswires
December 16, 2025 21:57 ET (02:57 GMT)
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