DMI Finance set to raise funds from MUFG at $3 billion valuation
![DMI Finance set to raise funds from MUFG at billion valuation DMI Finance set to raise funds from MUFG at billion valuation](https://i3.wp.com/bsmedia.business-standard.com/_media/bs/img/article/2024-07/17/thumb/fitandfill/400X400/1721240944-3958.jpg?w=1200&resize=1200,0&ssl=1)
Source: Business Standard
![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 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](https://bsmedia.business-standard.com/_media/bs/img/article/2024-07/17/full/1721240944-3958.jpg?im=FitAndFill=(826,465))
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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.
First Published: Aug 22 2024 | 2:03 AM IST