The 4 shortlisted bidders for DHFL are: Oaktree Capital, Adani Properties, Piramal Enterprises and SC Lowy.
By Ankur Mishra,
Lenders to Dewan Housing Finance Corporation (DHFL) have voted in favour of a fresh round of bidding. The 4 shortlisted bidders will have time till December 14 to submit bids, sources close to improvement told FE. The voting on the resolution to invite fresh round of bids concluded late Wednesday evening. The 4 shortlisted bidders for DHFL are: Oaktree Capital, Adani Properties, Piramal Enterprises and SC Lowy.
FE had earlier reported that the CoC had agreed to contemplate bids submitted in the third round by bidders on November 17, even as there is an alternative to boost their gives in the fresh round. Lenders had earlier decided not to open third round of bids on November 17, right after the National Company law Tribunal (NCLT) stayed the resolution proceedings on a petition filed by the National Housing Bank (NHB). NHB’s petition claimed priority more than other creditors. Lenders had also proposed to set aside the quantity of claim by the NHB, pending the outcome of the case at the NCLT.
Lenders had final opened bids submitted by the 4 shortlisted bidders right after the second round of bidding on November 9. While Oaktree Capital had submitted a bid of Rs 31,000 crore for all the assets of the firm, the other 3 bidders had submitted their bids for acquiring the firm in components throughout the second round of bidding. Later, Adani Properties supplied Rs 31,250 crore for acquiring the entire book of DHFL, just just before the third round of bidding on November 17. The other 3 bidders opposed Adani’s final-minute bid and threatened to withdraw from the bidding method.
The admitted claims of monetary creditors from DHFL stood at rS 87,120 crore as on September 10. SBI is the lead creditor with a claim of Rs 10,083 crore.