Morgan Stanley launched the sale of its Indian private wealth management unit last November, after entering the highly fragmented and competitive market about four years earlier.
In 2011, the bank raised Rs 970 crore through a qualified institutional placement and a preferential allotment to the promoters.
Former Citigroup chief may be looking to buy 5% stake in financial services company promoted by Nimesh Kampani.
The deal also involves Pandit raising money for JM Financial’s NBFC and setting up a distressed asset fund.
Starting as an infrastructure finance company, IDFC has diversified across financial services business over the years.
Earnings are up 11%, outperforming rivals Morgan Stanley and Goldman Sachs, and accounting for most of Barclays' profit.
The firm, which specialises in venture debt, has made over 40 loans since starting in India in late 2008 & currently has a portfolio of nearly 30 cos.
The bank has already mandated SBI Caps for equity valuation of State Bank of Patiala and State Bank of Hyderabad.
Woodbridge will focus on handling sell side mandates for privately held mid-market firms with transaction values in the range of Rs 25-500 crore.
Citigroup shares rose 13.2% this year through Friday; in the same period, S&P's 500 stock index rose 11.4%.
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