Mizuho Is Said on Cusp of Buying Indian Investment Bank Avendus

Mizuho Financial Group Inc. is on the verge of buying a majority stake in investment bank Avendus Capital Pvt, people familiar with the matter said, in what would be the latest acquisition by a Japanese bank in India.

Executives are hammering out details of a transaction that could be finalized as soon as this month and value Avendus at about $800 million, including debt, the people said, asking not to be identified because the deliberations are private.

Mizuho, Japan’s third-largest lender, plans to acquire KKR & Co.’s 63% stake in Avendus and may also buy shares from minority ...