• The Japanese firm will buy a controlling stake in Avendus.
• The firm will gain access to Mizuho’s global network and resources.
• Avendus’ founders and senior team will maintain operational and strategic control.

Japanese financial major Mizuho Securities is set to acquire a majority stake in Indian investment bank Avendus Capital from KKR, marking one of the largest cross-border deals in India’s financial services sector. The transaction will make Avendus a consolidated subsidiary of Mizuho Financial Group, Japan’s third-largest banking group.

Avendus confirmed that Redpoint Investments, an affiliate of KKR, will sell its stake to Mizuho Securities. Avendus Co-founder and Executive Vice Chairman Ranu Vohra will also exit his stake and continue in his role until the transaction is completed, subject to regulatory approvals.

According to reports, Mizuho will buy between 61.6 percent and 78.3 percent of Avendus for up to 81 billion yen, or about $523 million, valuing the firm at around Rs 5,900 crore. The deal was first agreed upon nearly six months ago and is now nearing closure.

Despite the change in ownership, Avendus will continue to be led by its founders, Gaurav Deepak and Kaushal Aggarwal, along with the existing senior leadership team. The firm will retain its brand and operating independence while gaining access to Mizuho’s global network, capital strength, and institutional relationships.

Mizuho said the acquisition reflects its growing focus on India as global clients look to expand in one of the world’s fastest-growing major economies. The group believes Avendus’ strong position in investment banking, wealth management, and institutional equities makes it a strategic partner for expanding its M&A and capital markets presence across Asia-Pacific, the US, and EMEA.

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Avendus’ leadership said the partnership goes beyond capital and is aimed at building deeper financial links between India and Japan. The deal also highlights rising interest from Japanese financial institutions in India, following recent investments by peers in Indian banks and NBFCs.