Avendus to focus on institutional brokingRajesh Abraham / Mumbai December 18, 2007Avendus Capital, a boutique investment banking company, is planning to tap the business of institutional broking and capital market practices (IPO deals, open offer transactions) in a big way.The company, which has carved a niche in the small and mid-market segment for M&As and private equity transactions, is in the process of setting up its team of sales and research for the institutional broking division, said Ranu Vohra, managing director and CEO, Avendus Capital.To reflect the change in its approach, the company recently changed its name from Avendus Advisors to Avendus Capital. It has also hired Girish Nadkarni from IL&FS Investsmart to head the capital market practices.The company is expecting business to pick up in the institutional broking space after the recent curbs on participatory notes (P-notes) that may force foreign investors to route transactions through Indian brokerages.Avendus Capital
