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 …
Blackstone Group Inc.’s Indian subprime mortgage lender plans to exit its small builder financing business at a time when pain from the nation’s credit crunch abounds, with another victim claimed this week. “We are in process of phasing out this small builder loan portfolio to keep the company 100% retail focused as per mandate from new owners,” said Deo Shankar …
New Delhi: Shares of Indian home loan provider Dewan Housing Finance Corp Ltd slumped 17% in early trade on Thursday, with sources saying the government has launched a probe into allegations of financial mismanagement against the company. Ministry of Corporate Affairs will look into allegations against Dewan following a report by investigative media outlet Cobrapost, two government sources with direct …
