India, Dec. 17 -- Japan's Mizuho Securities is acquiring a majority stake of about 60% in Avendus Capital from US-based investment firm KKR with an eye on expanding its financial offerings in the Indian capital market.

Redpoint Investments Pte Ltd, an affiliate of KKR, will sell its stake in the firm to Mizuho Securities Co Ltd, a subsidiary of Mizuho Financial Group, Avendus said in a statement.

Additionally, Avendus cofounder and executive vice chairman Ranu Vohra will also divest his shareholding. He will continue to serve his role until the deal is completed.

Post the deal, Avendus Capital will become a subsidiary of Mizuho Securities, while retaining its brand and identity.

A Reuters report said that Mizuho will buy the stake in ...