IL&FS ropes in Avendus honcho

<p>The top-level churn at the country’s financial institutions continues. IL&FS Financial Services has hired a top official from Mumbai-based Avendus Capital to head its capital markets business. Avdhoot Deshpande, executive director, equity capital markets at Avendus, has joined IL&FS Capital Advisors as chief executive officer, according to people in the know.

Deshpande was unavailable for comment. An Avendus spokesperson said, “After a successful association, Avdhoot has decided to move to a new assignment.” IL&FS officials were also unavailable for comment.

Apart from equities and public markets, Deshpande will handle the private equity and mergers and acquisitions (M&A) advisory at IL&FS Capital Advisors. He has experience of 18 years in managing a variety of capital market transactions, including IPOs, FPOs, QIPs and PIPE deals.