DHFL Suitors Revise Offers

Suitors for the troubled non-banking finance company Dewan Housing Finance Corporation (DHFL) have raised their offer price in the revised bids submitted for the company, sources said. Adani Group, Piramal Enterprises, US-based Oaktree and Hong Kong-based SC Lowy have submitted 10-70 per cent higher price for either a stake in the company or buying out some of its assets. Oaktree Capital has raised its bid price for the entire portfolio to Rs 33,000 crore from Rs 27,800 crore earlier, sources with knowledge of the development said. Piramal has significantly revised its bid for the retail book to Rs 26,500 crore from Rs 15,000 crore offered earlier. Adani Properties has also raised its bid for the wholesale and Slum Rehabilitation Authority (SRA) assets to Rs 3,000 crore from Rs 2,200 crore earlier. It has also offered Rs 50 crore for the slum redevelopment book, they said. SC Lowy has upped its bid for the non-SRA book to Rs 2,300 crore from Rs 1,550 crore earlier. The new bids have been submitted after the lenders asked the bidders to revise their offer.