Adani Properties bids for entire book of DHFL at the eleventh hour: Sources

Adani is now open to bidding for the entire DHFL company. Earlier, they had only bid for the wholesale book and slum rehabilitation book of DHFL. Adani Properties has informed the RBI Administrator and Committee of Creditors (CoC) of Dewan Housing Finance Limited (DHFL) that they have bid for the whole book and have offered Rs 250-300 crore more than US-based Oaktree Capital’s Rs 31,000 crore, according to sources.

Bidding option allowed at this point in time is still under discussion among the bankers and they have not responded to the offer made by Adani Properties yet. Adani Properties has currently revised it’s bid to Rs 2,700 crore from Rs 2,200 crore earlier for the wholesale book.

In the bids submitted earlier, Oaktree had bid Rs 31,000 crore for the entire company whereas Piramal had bid Rs 25,000 crore for the retail books of DHFL. Adani had bid around Rs 3,000 crore for the book of the wholesale/slum redevelopment authority then.

Earlier, the Piramal Group requested the committee of creditors to disregard Adani Group’s new offer. It hinted on exiting if Adani wins the DHFL bid.

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