Financial company DMI Finance, headquartered in Delhi, successfully raised ₹1,455 crore by issuing secured, listed Non-Convertible Debentures (NCDs) through a private placement.
According to an official statement, the total number of bids for the issuance amounted to ₹1,630 crore, with participation from diverse investors, including mutual funds, Alternative Investment Funds (AIFs), primary dealers, corporations, and family offices.
The structuring of this issuance was agreed upon with Morgan Stanley. The NCDs carry an AA rating assigned by ICRA and have a tenure varying up to 36 months. The raised funds will be directed towards supporting the expansion of DMI Finance's credit portfolio and meeting the company's financing needs.
Shivashish Chatterjee, Co-founder and Managing Director of DMI Finance, noted that this deal demonstrates the sustained confidence of institutional investors in DMI Finance and its long-term growth strategy. He emphasized that maintaining a diversified and sustainable funding profile remains a priority when scaling the business.
Chatterjee added that the attracted capital will help the company meet evolving client credit needs while maintaining a disciplined approach to risk management and growth. This transaction is part of DMI Finance's continuous efforts to diversify funding sources and deepen engagement with capital market investors. The company continues to raise funds through banks, financial institutions, and debt capital markets to support its lending business. To date, DMI has raised a total of $734 million through seven funding rounds, including one seed, five late-stage, and one debt round.