DMI Finance raises INR 1455 crore through Non-Convertible Debentures
DMI Finance Private Limited (“DMI Finance”), a leading non-banking financial company in India, has raised INR 1,455 crore by issuing secured, listed Non-Convertible Debentures (NCDs) on a private placement basis. Morgan Stanley was consulted on the structuring of the issuance.
The issuance received aggregate bids of INR 1630 crore and saw participation from a diverse set of investors, including mutual funds, alternative investment funds (AIFs), primary dealers, corporates and family offices, further broadening DMI Finance’s access to debt capital markets.
The NCDs are rated AA by ICRA and have a tenure ranging up to 36 months. The proceeds will be used to support the growth of DMI Finance’s lending portfolio and meet the company’s funding requirements.
Commenting on the issuance, Shivashish Chatterjee, Co-founder & Managing Director, DMI Finance, said, “This transaction reflects the continued confidence of institutional investors in DMI Finance and our long-term growth strategy. As we scale our business, maintaining a diversified and resilient funding profile remains an important priority for us. The capital raised will support our ability to meet the evolving credit needs of our customers while maintaining a disciplined approach to growth and risk management.”
The transaction is part of DMI Finance’s ongoing efforts to diversify its sources of funding and deepen its engagement with capital market investors. The company continues to access funding across banks, financial institutions and debt capital markets to support the growth of its lending business.
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