DMI Finance, which raised Rs 2,798 crore in equity investment from Mitsubishi UFJ Financial Group Inc in August, has added two senior executives to its leadership team. The company has appointed Niraj Khandelwal as group chief financial officer, and Rachit Gupta as group treasury head.
Khandelwal will oversee the integration of strategy, policies, and technology across finance, accounting, and taxation functions, DMI Finance said. He brings over 26 years of experience in banking and financial services, having held key positions at Credit Suisse, IL&FS Investsmart, and JM Morgan Stanley Direct.
Gupta will oversee fundraising, investments, cash flow and liquidity management, asset-liability management, and banking transactional support for the group. He has held senior positions at Sumitomo Mitsui Financial Group, Edelweiss Financial Services, and Power Finance Corporation.
Founded in 2008, DMI Group offers a wide range of financial services, including digital finance, housing finance, asset management, and technology solutions. In the financial year ended March 2024, the company disbursed loans worth $2.25 billion.
The group has raised over $1.5 billion in capital so far.
Apart from the August fundraise, MUFG Bank had led a $400 million equity investment round in DMI Finance in primary and secondary transactions in April last year. The round also saw participation from existing investor Sumitomo Mitsui Trust Bank Ltd.