Nomura, Mizuho Are Leading Bidders for India’s Avendus Capital

Nomura Holdings Inc. and Mizuho Financial Group Inc. are the leading bidders for a majority stake owned by KKR & Co. in one of India’s biggest investment banks, according to people familiar with the matter.

The two Japanese firms have made the highest preliminary bids for KKR’s 63% stake in Avendus Capital Pvt., said the people, who asked not to be identified as the discussions are private. The US private equity firm is seeking at least $400 million for its stake, and as many as seven firms, including Carlyle Group Inc., have expressed interest, the people said.

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