Delhi-headquartered NBFC DMI Finance has raised Rs 1,455 crore by issuing secured, listed Non-Convertible Debentures (NCDs) on a private placement basis.

The issuance received aggregate bids of Rs 1,630 crore and saw participation from a diverse set of investors, including mutual funds, alternative investment funds (AIFs), primary dealers, corporates and family offices, according to a statement.

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.

“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,” Shivashish Chatterjee, Co-founder & Managing Director, DMI Finance, said.

He added, “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.

So far, DMI has raised a total of $734 million through seven funding rounds that include one Seed, five late-stage, and one debt rounds.

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