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Peeved Piramal says will quit race for DHFL over Adani's 11th-hour bid

Adani, which had earlier bid only for the wholesale book, now want all of DHFL's assets and has pipped both Oaktree and Piramal by bidding higher than each of them

DHFL
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Taken aback, the Piramal group has asked the committee of creditors to disregard Adani's new offer or it will seek appropriate redressal as per the law

Dev Chatterjee Mumbai
A surprise last-minute bid by the Adani group during the Diwali weekend for the entire assets of DHFL has angered the Piramal group, which has threatened to exit the race if the former’s bid is accepted.

Adani had earlier bid only for the wholesale book, but has now pipped Oaktree and Piramal by bidding higher than them, say bankers.

In the revised bids submitted earlier, Piramal had bid Rs 25,000 crore for DHFL’s retail books, while Oaktree had bid Rs 31,000 crore for the entire company. Adani had bid around Rs 3,000 crore for the wholesale/slum redevelopment authority books. However,

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First Published: Nov 15 2020 | 5:30 PM IST

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