DMI Finance set to raise funds from MUFG at $3 billion valuation
DMI Finance plans to use the capital to expand its balance sheet, co-founder said
 "Overseas fundraising by Indian firms is experiencing a robust revival in 2024, following a lacklustre 2023. This resurgence is primarily driven by strong demand for high-yield bonds from international investors amid improving liquidity conditions an")
Illustration: Binay Sinha
Listen to This Article
By Baiju Kalesh
Indian shadow bank DMI Finance Pvt said it’s raising fresh funding from Japan’s Mitsubishi UFJ Financial Group Inc. at a valuation of about $3 billion as it seeks to ramp up its lending.
Indian shadow bank DMI Finance Pvt said it’s raising fresh funding from Japan’s Mitsubishi UFJ Financial Group Inc. at a valuation of about $3 billion as it seeks to ramp up its lending.
MUFG is set to buy around $330 million of stock in the company, DMI Finance co-founder Shivashish Chatterjee said in an interview Wednesday. The Japanese lender, which is already an investor in DMI Finance, will be the company’s second-largest shareholder after the deal, he said.
DMI Finance plans to use the capital to expand its balance sheet, Chatterjee said. It aims to boost lending to small- and medium-sized enterprises and will look at acquisitions, in addition to expanding its consumer finance lending and personal loan book, he said.
A representative for MUFG declined to comment.
More From This Section
 "UPI, UPI payments, UPI payment")
 "Ankur Capital")
 "Global online sports betting and iGaming player, Flutter Entertainment, on Tuesday opened a new Global Capability Centre (GCC) in Hyderabad with a $3.5 million investment.")
 "Cryptocurrency")
 "Bhavin Pandya, Co-founder and co-CEO, Games24x7")
Topics : Fundraising equity fundraising
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Aug 22 2024 | 2:03 AM IST