Mizuho Secures Majority in Avendus Capital: KKR Exits, Founders Stay

• Mizuho Securities will acquire a majority, controlling stake in Avendus Capital, marking the second major Japanese-Indian financial services deal.
• US private equity firm KKR is selling its entire 57% stake, and co-founder Ranu Vora will also exit, bringing Mizuho's initial holding to about 64%.
• An emotional townhall informed employees, assuring no changes to operations; co-founders Gaurav Deepak and Kaushal Aggarwal will remain at the helm.
• Mizuho will hold veto power on major business and investment decisions, with regulatory approvals expected to finalize the deal by 2026.
• KKR extended a tag-along offer to other shareholders like Gaja Capital and Yogesh Mahansaria; Mizuho's $700 million offer was the highest bid.

Why It Matters: Mizuho's majority acquisition of Avendus marks a new era, with KKR exiting and management continuity.