InvestorQ : What is the latest update on final bidders of DHFL bankruptcy bidding? Has the NCLT decided on the winning bid?
Anu Biswas made post

What is the latest update on final bidders of DHFL bankruptcy bidding? Has the NCLT decided on the winning bid?

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Ria Jain answered.
1 month ago
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The DHFL bidding appears to be taking new twists and turns on a daily basis. Even as the competitive bidding for Dewan Housing enters the final stage at the NCLT, one of the principal bidders for DHFL, Oaktree Capital of the United States has offered more funds to the financial creditors of DHFL, payable upfront.

Oaktree is a US based stressed assets fund which normally invests in assets that are under strain, especially loans. Oaktree is one of the last round bidders for DHFL, along with Adani Group and Piramal Enterprises. In line with the request for greater clarity from the Committee of Creditors or COC, Oaktree has proposed to enhance its upfront payment.

Now Oaktree has offered to increase the payout to creditors by Rs.1700 crore and also offered to pay an additional Rs.300 crore to the fixed deposit or FD holders of DHFL, in order to sweeten the deal. This amount of Rs.1700 will be paid out of the additional interest that DHFL will accrue from its existing loan book till the resolution process is completed.

This almost matches the offer made by PEL. It may be recollected that earlier Oaktree had offered to place Rs.1500 crore in an escrow account and then eventually transfer funds to the COC after adjusting for any charges on the sale of life insurance venture. Adani is yet to revise its offer and does not seem to be intent to bid higher than its current bid.

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