The resolution process at Dewan Housing Finance Corp. Ltd. has taken a fresh turn with one of the bidders proposing to materially revise their offer.
Adani Group, which had originally proposed to bid for only the wholesale assets of the housing finance company, is now offering to buy all the loan assets, according to three people with direct knowledge of the development. The group is now offering Rs 31,250 crore to financial creditors, the people quoted above said, speaking on conditions of anonymity.
Apart from Adani Group, Oaktree Capital Management has also submitted a bid for DHFL’s total loan portfolio. Piramal Group has submitted a bid for the retail loan portfolio, while Hong Kong-based SC Lowy is looking to buy the corporate lending portfolio.
Adani Group’s new offer is higher than the Rs 31,000 crore being offered by Oaktree Capital Management, to purchase DHFL’s entire…
