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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Talk of a potential sale of private equity giant KKR’s stake in Avendus has thrown up a number of questions about the company’s present and its future prospects.
A deal is imminent. Avendus Capital, India’s top investment bank, may soon belong to a new owner. Japanese finance powerhouses Mizuho Financial Group and Nomura Holdings are reportedly the leading bidders for US-based private equity firm KKR’s 63% stake in Avendus. The new owner could end up owning more than 80% of Avendus if other shareholders exercise their tag-along rights, according to a bidder who is no longer in the fray and requested anonymity. (Tag-along rights allow minority shareholders the option to sell their stakes.)
The potential sale will mark a new—and important—chapter for Avendus, India’s homegrown banker of choice …
The brokerage, known for going against the tide, is now unabashedly gung-ho about the prospects of the Indian stock markets.
Missing for over a decade, capital expenditure by companies is expected to pump-prime the stock markets.
