Mumbai: Delhi-based DMI Finance Pvt. DMI Finance, founded in 2008 by former Citigroup Inc. executives Shivashish Chatterjee and Yuvraj Singh, is an India-focused financial services company with businesses in corporate lending, housing finance, consumer finance and asset management. We expect an initial close of around Rs300 crore in the next 3-4 weeks and the final close by March 2018,” said Shivashish Chatterjee, co-founder and joint managing director at DMI Finance. On the real estate side, the firm’s strategy is driven by pressure created on developers’ financial health due to a slowdown in residential real estate sales over the recent few years and the introduction of the Real Estate (Regulation and Development) Act, Chatterjee said. Smaller, weaker real estate players are also being hit by RERA, which is putting significant pressure on their flexibility and margins, he said.

Source: Mint June 28, 2017 21:33 UTC