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Big names in race for DHFL

Adani Group, KKR, Bain Capital, Kotak Mahindra Bank and Piramal Enterprises are among some of the contenders

By PTI in Mumbai
  • Published 18.02.20, 12:47 AM
  • Updated 18.02.20, 12:47 AM
  • a min read
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The sources said of the interested entities, at least 14 are keen to take over the whole operations of the mortgage lender. (Shutterstock)

Adani Group, KKR, Bain Capital, Kotak Mahindra Bank and Piramal Enterprises are among the more than two dozen entities that have put in bids for crippled DHFL, the first financial services player undergoing insolvency process, according to two sources.

The sources said of the interested entities, at least 14 are keen to take over the whole operations of the mortgage lender.

In November, the Reserve Bank referred DHFL, the third largest pure-play mortgage lender, to the National Company Law Tribunal (NCLT) for insolvency proceedings.

Before that, the company’s board was superseded and R. Subramaniakumar was appointed as the administrator. He is also the resolution professional under the Insolvency and Bankruptcy Code (IBC).

The last date for the submission of bids under the insolvency process was Monday.

One of the sources said the company has received 24 bids, of which 14 are for the entire operations.

According to the second source, the number of bidders was close to 30.