- 23 Aug 2024
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(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.