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DHFL lenders allow new bids

Piramal group is understood to have again revised its offer for the retail portfolio to Rs 26,500 crore from an offer of Rs 15,000 crore earlier
The move by Piramal Enterprises came after Adani Properties made key changes to its bid

Our Special Correspondent   |   Mumbai   |   Published 18.11.20, 12:43 AM

Lenders of troubled non-banking finance company, Dewan Housing Finance Corporation (DHFL), on Tuesday allowed all applicants to submit revised offers.

Following this, the Piramal group is understood to have again revised its offer for the retail portfolio of DHFL. It had recently revised its bid for the retail portfolio to Rs 26,500 crore from an offer of Rs 15,000 crore earlier. The move by Piramal Enterprises came after Adani Properties made key changes to its bid.

While the Adani group had earlier bid Rs 3,000 crore for the wholesale and Slum Rehabilitation Authority assets, it recently offered around Rs 250 crore more than that given by Oaktree Capital for the entire book. Oaktree Capital had cited a bid price of around Rs 31,000 crore.

Sources said that the committee of creditors did not take any decision on Tuesday and that it will respond over the next few days to the revised bid made by the Adani group.

The Piramal group had protested against the fresh bid made by Adani Properties and it wrote a letter to the administrator appointed by the RBI.

Shares of DHFL were locked in the upper circuit on Tuesday. It settled at Rs 18.45, a gain of 4.83 per cent over the previous close on the BSE.

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