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Piramal group plans to merge its financial services business with DHFL

The plan depends on DHFL's committee of creditors (CoC) accepting the offer over its rival Oaktree's.

DHFL
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The Piramal group is also planning to retain all the 4,500 employees of the bankrupt housing finance firm

Dev Chatterjee Mumbai
The Piramal group is planning to merge its financial services business with DHFL and has sweetened its Rs 35,550-crore offer for fixed depositors by setting aside an additional Rs 300 crore for them.

Piramal’s equity in the financial services is worth Rs 10,000 crore.

The plan depends on DHFL’s committee of creditors (CoC) accepting the offer over its rival Oaktree’s.

The Piramal group is also planning to retain all the 4,500 employees of the bankrupt housing finance firm.

According to a source close to the development, Piramal’s offer is Rs 2,500 crore more than that of Oaktree. The US-based firm

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First Published: Dec 17 2020 | 6:10 AM IST

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