Mumbai, Dec. 10 -- Global private equity firm KKR has bought out Ranu Vohra, the cofounder of Avendus Capital, clearing up the way for a deal to sell the financial services firm. The deal to buy out the 6% stake held by Vohra values the company at Rs.11,500 crore, people with knowledge of the development said.

"The deal between Vohra and KKR got signed on December 9, and will now help to take the deal to sell the company forward," one of the people with knowledge of the development said.

The valuation is nearly double the Rs.6,000-crore offer that Mizuho had made earlier this year when the Japan's leading financial services group wanted to acquire around 80% of the homegrown financial services firm.

The deal comes 10 years after KKR pu...