Japan’s Mizuho Securities will acquire a 61.6%–78.3% stake in Indian investment bank Avendus from KKR for up to 81 billion yen ($523 million), making Avendus a consolidated subsidiary.
The deal deepens Japanese financial institutions’ expansion into India, as firms seek growth outside a shrinking domestic market. Mizuho said rising client demand for India exposure made the acquisition strategically critical.
The move strengthens Mizuho’s cross-regional investment banking platform, complementing its 2023 acquisition of U.S. advisory firm Greenhill. India had been a key gap in its global M&A footprint, the bank said.
Avendus plans to expand hiring and increase investment focus on industrials, healthcare, infrastructure, and energy. KKR first invested in Avendus in 2016.
Why it matters
The transaction highlights India’s growing role in global M&A and capital markets, and underscores rising Japanese appetite for high-growth emerging markets as domestic growth slows.