InvestorQ : Is it true that Adani group is taking over the entire portfolio of stressed Dewan Housing? What could be the reason for buying?
Mitali Bhutta made post

Is it true that Adani group is taking over the entire portfolio of stressed Dewan Housing? What could be the reason for buying?

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NISHA Nayak answered.
1 week ago
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Adani Enterprises has expressed interest to bid for the entire portfolio of Dewan Housing and has even indicated a price that Rs.250 crore higher than the price offered by Oaktree. The Howard Marks owned Oaktree is the largest distressed assets buyer in the world and has an AUM of over $125 billion. AEL will submit the resolution plan next week.

Many of the bidders in the fray are also specifically interested in the slum rehabilitation (SRA) book, for which AEL is also wailing to hike its bid. There are four bidders in all for the book which includes Oaktree, Adani Enterprises, Piramal Enterprises and S.C. Lowy.

However, in the latest round of bidding most have revised their prices. Oaktree raised its bid for the full portfolio to Rs.31,000 crore and Piramal Enterprises to Rs.26,000 crore. Promoter Wadhawan himself has also put in a bid.

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