Mumbai (Maharashtra)/ New Delhi [India], April 5 (/BusinessWire India): Cyril Amarchand Mangaldas advised DMI Finance Private Limited (DMI Finance), a RBI registered Non-banking Financial Company (NBFC), on its USD 400 million equity fundraising led by Mitsubishi UFJ Financial Group, Inc (Mitsubishi UFJ). DMI Finance is a digital lender with products, including consumption, personal and MSME loans.
Cyril Amarchand Mangaldas advised the DMI Group on the vendor due diligence exercise in relation to DMI Finance, and its group and associate compes, collectively holding a RBI NBFC, RBI pre-paid payment instrument (PPI) and SEBI Merchant Banking license. The team was led by Anu Tiwari, Partner; Jian Johnson, Partner; with support from Utkarsh Bhatnagar, Principal Associate; Karthik Narayanan, Associate; Him Doot, Associate; Shubhaankar Ray, Associate; and Riddhi Swami, Associate. The employment team was led by Ankita Ray, Partner; with support from Luv Saggi, Senior Associate; and Sonam Ambastha, Associate.
As a part of the transaction, Mitsubishi UFJ led the investment in DMI Finance, through its consolidated subsidiary MUFG Bank, Ltd., with participation from existing investor Sumitomo Mitsui Trust Bank Limited.
The Transaction was announced on 03rd April 2023.
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