Mizuho Securities to acquire majority stake in Avendus for $523 million
Japan's Mizuho Securities is set to buy a majority stake in Indian investment bank Avendus from KKR, in a deal valued at up to $523 million.
This move will give Mizuho control of 61.6% to 78.3% of Avendus, making it their biggest investment in India so far.
Why is this a big deal?
Mizuho is looking to tap into India's booming financial market as Japanese banks face slower growth at home.
With this deal, KKR exits its majority position after nearly a decade, and Avendus gets valued at around ₹5,900-6,000 crore.
What's next?
According to CEO Masahiro Kihara, the acquisition answers growing client demand for expansion into India and will help Mizuho boost cross-border deals.
It also follows their recent global moves—like buying US-based Greenhill—and mirrors other Japanese banks increasing their presence in India.