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Japan’s Mizuho set to acquire Avendus Capital for $700 Mn: Report
Entrackr
·
1m ago
Medial
Japan’s Mizuho set to acquire Avendus Capital for $700 Mn: Report Japanese financial major Mizuho Financial Group is reportedly set to acquire KKR-backed Avendus Capital in a deal valuing the Indian investment bank at Rs 6,000 crore ($700 million). The Economic Times, which first reported the development, said the agreement comes after months of negotiations and will mark Mizuho’s largest investment in India. The deal includes KKR exiting its 60%, along with early investors and co-founder Ranu Vohra. The remaining founders, Kaushal Aggarwal and Gaurav Deepak, will stay on to lead operations, though Mizuho will have veto rights. Mizuho is likely to own up to 70% of Avendus post-deal. Established in 1999, Avendus operates across investment banking, credit solutions, institutional equities, wealth, and asset management. Its acquisition of Spark in 2022 bolstered its capital markets presence. For the nine months ending December 2024, the firm reported Rs 1,035 crore in revenue and Rs 170 crore in net profit. KKR, which invested Rs 950-1,000 crore in Avendus in 2015, is expected to make a 3.5x return. Other bidders like Carlyle and Nomura were in contention, but Mizuho emerged the frontrunner due to strategic alignment and cross-border synergy potential. Recently, SMBC invested in Yes Bank and Mizuho took a 15% stake in Kisetsu Saison Finance. With five branches in India, Mizuho has already infused $500 million into its operations and appointed KKR’s former India head Sanjay Nayar as an advisor.
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Carlyle, Avendus, Mizuho, Allianz Global, Varde Partners in news
VCCircle
·
3m ago
Medial
Private equity firm Carlyle has resumed talks to acquire a majority stake in Avendus Capital, an investment banking firm backed by KKR. This discussion follows the halt of negotiations between Avendus and Mizuho Financial Group of Japan.
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TVS Credit to make a bid for Avendus Capital
Livemint
·
7m ago
Medial
TVS Credit, the financial services arm of India-based TVS Group, is reportedly considering a bid for KKR-backed investment bank Avendus Capital as part of its strategy to expand its financial services business. TVS Group may acquire Avendus and keep it as a standalone entity or make an acquisition through TVS Credit. Other potential bidders for Avendus include Nomura Holdings, Mizuho Financial Services, and Carlyle. Avendus Capital specializes in investment banking, particularly within India's technology and startup sectors. The final decision on the sale is expected to be made in January 2023.
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Mizuho, NBD Emirates eye Avendus; Zepto turns to PEs after Flipkart stalemate
VCCircle
·
1y ago
Medial
Mizuho Bank and NBD Emirates are reportedly in advanced talks to acquire KKR's stake in Avendus Capital, with bids expected in the coming weeks. The deal is valued at around $430-450 million, lower than the anticipated $500 million valuation. The sale is being managed by Nomura.
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Grapevine: Nomura joins race for Avendus; Adani Wilmar owners to pare stake
VCCircle
·
10m ago
Medial
Nomura, Japan's largest investment bank, has reportedly joined the race to acquire Indian investment bank Avendus. Previously serving as an advisor to potential bidders, Nomura is now actively pursuing the acquisition. The sale of Avendus has also attracted interest from other financial firms such as Mizuho from Japan and Carlyle, a US buyout firm. The current majority stakeholder in Avendus, KKR, is seeking a valuation of Rs ... for the deal.
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Grapevine: Three firms make cut for Avendus; suitors line up for HUL ice-cream unit
VCCircle
·
10m ago
Medial
Carlyle, Premji Invest, and Mizuho Financial Group are in the running to acquire Avendus Capital from KKR. TPG Capital and TA Associates also showed interest but did not make the cut. The three remaining contenders are proceeding with due diligence, and final offers are expected soon. In other news, Hindustan Unilever's ice-cream business is attracting suitors, with potential buyers showing interest in acquiring the unit.
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Grapevine: Megha Engineering, Mizuho, Avendus, ART Fertility, Vecmocon in news
VCCircle
·
1m ago
Medial
Megha Engineering co-founder PV Krishna Reddy is planning a family buyout of the company. Mizuho Financial Group will acquire Avendus Capital, while IVI RMA Global will buy ART Fertility Clinics. Additionally, Vecmocon Technologies is in the process of securing extended Series A funding. These developments indicate significant investment activities and strategic acquisitions across various sectors, highlighting ongoing market dynamics and consolidation efforts in the engineering, finance, healthcare, and technology industries.
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Japanese bank to invest $145 mn in Credit Saison India
VCCircle
·
1y ago
Medial
Japanese bank, Mizuho Bank, is investing $145 million in Credit Saison India, the non-banking lender. Mizuho Bank will acquire a 15% stake in the company, while Credit Saison Group will retain the majority stake. This investment comes as Japanese firms show increased interest in India's financial services sector. Credit Saison India focuses on individuals and small and medium enterprises, with a portfolio of approximately 1.2 million active loans and assets under management of about Rs 10,000 crore.
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Grapevine: Avendus, Mizuho, Zetwerk, Edelweiss Alts, Ecom Express in news
VCCircle
·
5m ago
Medial
Japanese financial giant Mizuho is reportedly nearing a majority stake acquisition in Indian investment bank Avendus Capital. Concurrently, Zetwerk, a B2B manufacturing platform, is advancing its efforts to go public. Meanwhile, logistics company Ecom Express has suspended its initial public offering (IPO) plans. These developments mark significant movements in the Indian financial and corporate sectors, highlighting strategic investments and shifts in market entry strategies.
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KPIT Tech to acquire Caresoft Global's engineering solutions unit for $191 mn
VCCircle
·
2m ago
Medial
KPIT Technologies Ltd has announced plans to acquire the engineering solutions division of Caresoft Global for $191 million. This acquisition involves full ownership of units in the US, UK, Mexico, and Italy, focusing on automotive benchmarking and cost reduction engineering solutions. It enhances KPIT's expertise in trucks, buses, and off-highway vehicles, and accelerates its presence in China. The deal, which Avendus Capital advised, is expected to boost KPIT's operating margins and domain knowledge.
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Grapevine: Lenskart, Avendus, Actis, Data Sutram, Hero Future Energies, BofA, and Arshiya in news
VCCircle
·
5m ago
Medial
Lenskart and Hero Future Energies are preparing for their IPOs, and Data Sutram is nearing the conclusion of a fundraising round. Meanwhile, Avendus Capital plans to close its hedge fund operations, and Actis LLP is poised to acquire Macquarie Group’s green unit.
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