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 companies, 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; Himani 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.
About Cyril Amarchand Mangaldas
Cyril Amarchand Mangaldas (cam) is India’s leading law firm with a global reputation of being trusted advisers to its clients. The Firm advises a large and diverse set of clients, including domestic and foreign commercial enterprises, financial institutions, private equity and venture capital funds, start-ups, government and regulatory bodies. The Firm generalists, specialists and senior ex-regulators expertly guide clients across a spectrum of transactions, sectors and regulations. With 1000 lawyers and 160 Partners, the Firm is the largest full-service law firm in India and offices in key business centres at Mumbai, Delhi-NCR, Bengaluru, Ahmedabad, Hyderabad, Chennai, GIFT City and also in Singapore.
The Firm recently received “Innovation in Advancing Markets” award at the FT Innovative Lawyers Asia Pacific 2022 Awards and the “National Law Firm of the Year: India” award at the IFLR Asia Pacific 2022 awards ceremony. The Firm had won “India Deal Firm of the Year” at the ALB India Awards and “Firm of the Year” at the IFLR1000 India Awards in 2021.
