DMI Finance secures Rs 1,455 Cr via listed NCDs to drive lending growth
DMI Finance has raised Rs 1,455 crore through an oversubscribed, secured NCD issuance to support its lending portfolio expansion and strengthen its debt capital base. The transaction saw broad participation from institutional investors and family offices.
Delhi-based NBFC, DMI Finance, has managed to raise Rs 1,455 crore via the issuance of secured, listed Non-Convertible Debentures (NCDs) through a private placement. The issuance attracted a total bid of Rs 1,630 crore, garnering support from a wide range of investors such as mutual funds, alternative investment funds (AIFs), primary dealers, corporates, and family offices.
Morgan Stanley provided assistance in structuring the issuance. The NCDs, rated AA by ICRA, have a maturity of up to 36 months. The raised funds will be utilized to bolster DMI Finance's lending portfolio and cater to the company's funding needs. This transaction signifies the ongoing trust of institutional investors in DMI Finance and highlights the company's commitment to long-term growth.
According to Shivashish Chatterjee, Co-founder & Managing Director, DMI Finance, the capital acquired will facilitate the company's ability to meet the changing credit requirements of its customers while maintaining a prudent growth and risk management approach. This move is part of DMI Finance's ongoing commitment to diversify its funding sources and strengthen connections with capital market investors, as the company continues to tap into funding provided by banks, financial institutions, and debt capital markets to fuel the expansion of its lending business.
To date, DMI Finance has successfully raised a total of $734 million from seven funding rounds, including one Seed, five late-stage, and one debt round.
Written by urgent.news from YourStory's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
