DHFL creditors vote in favour of Piramal’s $5 billion bid – source
MUMBAI:Creditors of India’s Dewan Housing Finance Corp have voted in favour of a 372.5 billion rupees ($5.09 billion)takeover bid submitted by the Piramal Group for the troubled “shadow” lender, a source with knowledge of their decision said on Sunday. DHFL’s creditors finished voting on Friday evening, and the source requested anonymity as the result has […]
DHFL COC seeks to oust Oaktree from bidding race; rules changed again to favour Piramal
NEW DELHI: Banking sources reveal that some of the members of the Committee of Creditors (CoC) with large exposure to DHFL, are seeking to oust Oaktree from the bidding race for DHFL assets. Interestingly, Oaktree has emerged as H1 with the highest bid of Rs 38,400 crore. However, at the instance of some of these […]
Can improve DHFL offer, forfeit deposit of those against recoveries: Adani
NEW DELHI: Billionaire Gautam Adani’s roads-to-mining group has indicated that it can improve on its Rs 33,000 crore takeover offer for collapsed housing lender DHFL and has sought forfeiture of deposits of bidders seeking to vitiate auction by questioning maximum recovery of public money. In an email written to the administrator, who is running the […]
Yediyurappa invites Piramal Group to invest in Karnataka
BENGALURU: Karnataka Chief Minister B S Yediyurappa on Tuesday assured all cooperation from the state government to the Piramal Group, which expressed its willingness to invest in the pharmaceutical sector in the state. During a virtual meeting with Anand Piramal, president of Piramal Group, Yediyurappa said the state government has brought in many reforms in […]
Piramal Group partners with IIFL Wealth to offer Rs 2000 crore last-mile funding to realty projects
NEW DELHI: Piramal Group and IIFL Wealth Management Limited have announced a co-investment on an Alternative Investment Fund (AIF) platform to fund select advance stage / last-mile real estate projects across Tier 1 cities in India. This AIF with a target size of Rs 2,000 crores, will be used to provide capital to Tier 1 […]