By Express News Service

NEW DELHI:  All the existing bidder for the troubled non-banking finance company Dewan Housing Finance Corporation (DHFL) have  revised their bids upwards including Oaktree, which has submitted fresh bid of Rs 31,000 crore, as  against its earlier Rs 20,000 crore offer.

Sources say the other bidders, too, have followed suit including Piramal group, Adani and SC Lowy, enhancing their bid price on the request of lenders for the company which is under the Insolvency and Bankruptcy Code. 

While Piramal Group has significantly revised its bid for the retail book to Rs 26,500 crore from earlier offer of Rs 15,000 crore, Adani, which had placed the lowest bid, also raised its bid for the wholesale book to Rs 2,700 crore from Rs 2,200 crore, with an additional Rs 50 crore for the slum redevelopment.

According to the sources, the  Committee of Creditors (CoC) are weighing in all the options and is likely to declare the highest bidder by November 17, post Diwali. “This is a very good development. Dewan Housing’s liquidation value is expected to be around Rs 25,000 crore, fresh offers are significantly higher than earlier one, a source said.

DHFL is facing claims of Rs 87,031 crore from financial creditors, including Rs 10,083 crore from State Bank of India, Rs 4,125 crore from Bank of India, Rs 2,681 crore from Canara, Rs 2,434 crore from NHB, Rs 2,378 crore from Union Bank of India, Rs 2,229 crore from Syndicate Bank, Rs 2,075 crore from Bank of Baroda, and Rs 361 crore from HDFC Bank, among others.

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