homemarket News

Bidding war for DHFL intensifies after suitors raise offers

Bidding war for DHFL intensifies after suitors raise offers

Bidding war for DHFL intensifies after suitors raise offers
Profile image

By Ritu Singh  Dec 24, 2020 7:05:57 PM IST (Updated)

The bidding war for DHFL has intensified after suitors including Piramal Group and Oaktree Capital raised offers to outdo each other.

The bidding war for Dewan Housing Finance Limited (DHFL) has intensified after suitors including Piramal Group and Oaktree Capital raised offers to outdo each other.

Recommended Articles

View All

As per a letter sent to DHFL CoC on Thursday, Oaktree Capital raised its bid by Rs 1700 crore. This came after Piramal Group also increased its bid amount by Rs 1700 crore in the offer submitted on December 22.
Oaktree's revised offer now stands at Rs 38,400 crore whereas Piramal Group's at Rs 37,250 crore.
According to the revised bids, Piramal allocated additional Interest Income to Financial Creditors and increased bid for Insurance stake and Oaktree proposed to allocate Rs 1700 crore as Additional Interest Income to Financial Creditors.
Oaktree also offers Rs 300 crore for FD holders in comparison to Rs 150 crore offered by Piramal Group.
Furthermore, NCDs offered by Oaktree is Rs 21,000 crore over the duration of 7 years, and Rs, 19,550 crore over 10 years by Piramal.
DHFL has also received a bid from Adani Group, while another lender, a Hong Kong-based SC Lowy backed out of the race alleging unfair treatment by DHFL lenders.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!

Top Budget Opinions

    Most Read

    Market Movers

    View All
    Top GainersTop Losers
    CurrencyCommodities
    CompanyPriceChng%Chng