India's Tata Capital and Japan's Mizuho Securities Co Ltd have signed an initial deal to jointly offer financial services such as investment banking, private equity, broking and wealth management.
Tata Capital would also draw on Mizuho Securities' expertise in private equity business in the future, the companies said in a statement on Friday.
This alliance with Tata Capital will provide significant potential for expansion of businesses in India, Shigeyoshi Nishiyama, deputy president at Mizuho Securities, said in the statement.
Tata Capital is a subsidiary of Tata Sons Ltd, the holding company of India's salt-to-software Tata Group.
Mizuho Securities is a unit of Mizuho Financial Group (8411.T: Quote, Profile, Research), Japan's second-largest bank.
(Reporting by Hiral Vora; Editing by John Mair)