Bidders tread carefully as NBFC asset sales create a problem of plenty

Offers turn conservative as buyers rule out paying premium, say deals will be delayed by a year if sellers want value; banks aren't getting even 15% dues in the case of DHFL

A large number of asset sales by stressed NBFCs (non-banking finance companies) including by Dewan Housing Finance, Reliance Capital, IL&FS and Shriram stake sale by Piramal, has not only pulled down the valuations of the assets but has also flipped the market in the buyer’s favour.

Bidders say it’s a problem of plenty and their bids for the assets currently on sale will be conservative. "There is no question of paying any premium considering the current economic situation. The sale of assets is likely to be delayed by at least another year if the sellers want value,'' said a prospective