Dewan Housing Finance Limited (DHFL) share price was locked at an upper circuit of 10 percent at Rs 13.87 apiece on the BSE after as many as four suitors placed bids to acquire the mortgage lender company.
The Hong Kong-based SC Lowy as well as Gautam Adani-led Adani Properties have submitted a bid to acquire the wholesale portfolio, sources told CNBC-TV18.
Also, Piramal Enterprises submitted a bid to acquire DHFL’s retail assets, sources said. They added that the US-based distressed asset fund Oaktree Capital has submitted a bid to acquire the entire book.
In response to CNBC-TV18’s query on its bid for DHFL, SC Lowy’s founder and CEO Michel Lowy in an emailed statement confirmed, “SC Lowy views the DHFL investment opportunity as a key milestone to grow its infrastructure in India. India is our number one priority as we expand our Asian footprint.”
DHFL is the first financial services company where lenders are attempting a resolution via the Insolvency and Bankruptcy Code. It was admitted into the NCLT in December last year after the RBI superseded its board owing to governance concerns. DHFL is facing claims of over Rs 94,900 crore from financial creditors in NCLT.
Adani Properties has long been interested in acquiring DHFL and was in talks with its lenders even before the mortgage lender was sent to the bankruptcy court, CNBC-TV18 had earlier reported.
(Edited by : Ajay Vaishnav)
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