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  • DMI Finance Set to Raise Funds From MUFG at $3 Billion Valuation

DMI Finance Set to Raise Funds From MUFG at $3 Billion Valuation

  • Published on: 23 Aug 2024
  • Last updated on: 16 Oct 2024
  • Post Views: 11810

(Bloomberg) — 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.

Source: BNN Bloomberg

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