The sale process took a dramatic turn on Saturday after Adani Enterprises Ltd made an unsolicited bid for the assets of DHFL after the deadline for submitting revised bids ended on 9 November. In the revised bids, Piramal Enterprises Ltd offered ₹25,000 crore for DHFL’s retail book, while Oaktree bid ₹31,000 crore for the entire company. Adani had bid around ₹2,700 crore for the wholesale/slum redevelopment authority (SRA) books only. But, in a sudden move, Adani decided to bid ₹250 crore more than Oaktree for the entire firm. The decision of the CoC to reopen the bids for DHFL follows Piramal’s letter to SBI.

Source: Mint November 17, 2020 00:22 UTC