NEW DELHI, JAN 10: The Burman family, promoters of consumer goods company Dabur India, has acquired a minority stake in DMI Finance, a non-banking finance company (NBFC).
The investment marks the Burman family’s entry into the NBFC market and secured lending space.
As a result of the investment, Gaurav Burman — who has 20 years of experience in the financial services industry — will join the board of DMI.
Established in 2009, DMI Finance was founded by Yuvraj C. Singh and Shivashish Chatterjee, both former senior executives of Citigroup, with the aim of participating in the growth of the debt market in India.
DMI, which recently bagged a licence for a housing finance company, has built an equity capital base of Rs 500 crore. According to Yuvraj Singh, co-founder and Joint Managing Director, DMI Finance, in the next 12-18 months, plans are afoot to raise Rs 1,000-1,500 crore , of which about 50 per cent could be via debt.
