Oaktree, Piramal, Adani submit revised bids for DHFL
4 years ago

Oaktree, Piramal, Adani submit revised bids for DHFL

Live Mint  

MUMBAI: In the latest round of bidding for assets of Dewan Housing Finance Corporation Ltd on Monday, three of the four bidders submitted revised offers to acquire the entire business of the troubled mortgage financier, according to two people aware of the matter. Oaktree Capital has bid ₹32,700 crore, While Piramal has offered ₹32,350 crore and Adani ₹29,860 crore to buy the entire portfolio of DHFL. In the previous round, Oaktree Capital had bid ₹31,000 crore for the entire portfolio, while Piramal Enterprises had offered ₹26,000 crore. But, in a sudden move, Adani decided to bid ₹250 crore more than Oaktree for the entire firm, which led to lenders calling for the fourth round of bidding.

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History of this topic

Adani Realty wins bid to redevelop 24-acre plot at Bandra Reclamation
10 months, 3 weeks ago

Adani Realty wins bid to redevelop 24-acre plot at Bandra Reclamation

Hindustan Times  

Adani Realty, the real estate arm of Adani Group, has beat Larsen & Toubro to emerge as the highest bidder for the redevelopment of a 24-acre plot at Bandra Reclamation, located close to the Bandra-Worli Sea Link. Mumbai, India - Feb. 16, 2024: Adani group has won the bid for 24 acre Bandra reclamation plot in Mumbai, India, on Friday, …

Adani’s FPO fully subscribed as high net worth individuals offset retail wariness
1 year, 11 months ago

Adani’s FPO fully subscribed as high net worth individuals offset retail wariness

The Hindu  

The ₹20,000 crore follow-on public offer from Adani Enterprises Ltd. was fully subscribed on the last day of the record share sale on Tuesday, after high net worth individuals and institutional investors bid strongly and more than made up for a poor to tepid response from retail investors and employees. The successful conclusion of the Adani Group flagship company’s FPO …

BCCI expecting anything between Rs 7k cr-10k cr with Adani, Goenka, Aurobindo in fray
3 years, 2 months ago

BCCI expecting anything between Rs 7k cr-10k cr with Adani, Goenka, Aurobindo in fray

Deccan Chronicle  

Dubai: The Indian cricket board will be expecting the two new IPL franchises to go for Rs 7000 crore to Rs 10,000 crore each after the bidding process begins here on Monday. There are 22 companies which have picked up tender document worth Rs 10 lakh but with base price for new teams pegged at INR 2000 crore, there is …

Piramal Group Emerges as Preferred Bidder for Debt-ridden DHFL After Voting by Lenders
3 years, 11 months ago

Piramal Group Emerges as Preferred Bidder for Debt-ridden DHFL After Voting by Lenders

News 18  

Piramal Group emerged as the preferred bidder for troubled mortgage lender Dewan Housing Finance Corporation after the voting by the Committee of Creditors ended on January 15. According to the report, the Piramal Group bagged over 94 per cent votes, way past the required minimum of 66 per cent votes. The Piramal Group had on Saturday claimed that its bid …

Piramal, Oaktree agree to sweeten DHFL bids
4 years ago

Piramal, Oaktree agree to sweeten DHFL bids

Live Mint  

The race to acquire bankrupt Dewan Housing Finance Corp. Ltd has intensified with top bidders Oaktree Capital Management and Piramal Group offering to sweeten their bids as the sale process entered final negotiations, two people directly aware of the developments said. Sarvesh Kumar Sharma/Mint In the latest meeting with the lenders on 18 December, Piramal group proposed to invest an …

DHFL’s case should not take so long to resolve
4 years ago

DHFL’s case should not take so long to resolve

Live Mint  

Unless another surprise springs up, the bankruptcy proceedings of Dewan Housing Finance Corp. Ltd could soon draw to a close, with the ownership of this non-banking financial company placed in fresh hands by its creditors. The Adani Group, which had pushed DHFL’s auction into this fresh round with a controversial unsolicited offer in November that drew protests from other suitors, …

Oaktree Capital emerges highest bidder for Dewan Housing Finance
4 years ago

Oaktree Capital emerges highest bidder for Dewan Housing Finance

Live Mint  

Mumbai: Global alternative asset investor Oaktree Capital management has emerged as the highest bidder for Dewan Housing Finance Corporation Ltd in a revised round of bidding for the troubled mortgage lender, two people directly aware of the development told Mint requesting anonymity. According to the persons cited above, Oaktree Capital has bid ₹32,700 crore followed by Piramal group which has …

Adani may make additions to ₹33,000 cr bid for DHFL
4 years, 1 month ago

Adani may make additions to ₹33,000 cr bid for DHFL

Live Mint  

Billionaire Gautam Adani’s roads-to-mining group has indicated that it can improve on its ₹33,000 crore takeover offer for collapsed housing lender Dewan Housing Finance Corp. Ltd and has sought forfeiture of deposits of bidders seeking to vitiate auction by questioning maximum recovery of public money. In an email written to the administrator, who is running the DHFL auction under insolvency …

Adani Tops DHFL Bid, Says Its Bid Gives Maximum to Lenders; Rivals Want it Out of Race
4 years, 1 month ago

Adani Tops DHFL Bid, Says Its Bid Gives Maximum to Lenders; Rivals Want it Out of Race

News 18  

Billionaire Gautam Adani’s roads-to-mining group outbid US-based Oaktree with a Rs 33,000 crore bid for collapsed housing lender, DHFL, but rival bidders want it out of the race for allegedly missing the deadline – a charge Adani Group denies saying it followed due process and the “cartel” wants to prevent value maximisation. Four entities – Adani Group, Piramal Group, US-based …

Adani Group, Piramal among 4 bidders for DHFL, lenders stare at over ₹60,000 cr write-off
4 years, 2 months ago

Adani Group, Piramal among 4 bidders for DHFL, lenders stare at over ₹60,000 cr write-off

Live Mint  

New Delhi: Adani Group and Piramal Enterprises are among the four entities that have placed bids for DHFL, the first financial services player undergoing insolvency process, according to sources. Therefore, sources said, accepting Oaktree bid would result in a write-off of ₹65,000 crore for the lenders led by State Bank of India. Adani Group has bid for DHFL's ₹40,000-crore wholesale …

Adani Group, Piramal Among 4 Bidders for DHFL, Lenders Stare at Over Rs 60,000 Cr Write-off
4 years, 2 months ago

Adani Group, Piramal Among 4 Bidders for DHFL, Lenders Stare at Over Rs 60,000 Cr Write-off

News 18  

Adani Group and Piramal Enterprises are among the four entities that have placed bids for DHFL, the first financial services player undergoing insolvency process, according to sources. Therefore, sources said, accepting Oaktree bid would result in a write-off of Rs 65,000 crore for the lenders led by State Bank of India. Adani Group has bid for DHFL’s Rs 40,000-crore wholesale …

Oaktree buys DHFL loans for ₹1,375 crore
5 years, 11 months ago

Oaktree buys DHFL loans for ₹1,375 crore

Live Mint  

Mumbai: Mortgage lender Dewan Housing Finance Ltd on Tuesday said that it has raised ₹1,375 crore from funds managed by Oaktree Capital Management, through securitization of loans. The transaction is structured using the RBI’s securitization guidelines and involves securitization of wholesale real estate project finance loans with security over a near-complete residential project in Mumbai, the lender said in a …

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