An existing institutional investor in Avendus Capital Pvt. Ltd is preparing to exit from the boutique investment bank, according to two people with knowledge of the matter.
Eastgate Capital Group (ECG), the private equity unit of NCB Capital, the investment banking arm of the National Commercial Bank of Saudi Arabia (NCB), holds about a 26% stake in Avendus. ECG invested Rs.100 crore in Avendus in 2008.
