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[Exclusive] Piramal Capital & Housing Finance's resolution plan for DHFL gets RBI nod


Updated Feb 18, 2021 | 15:41 IST
The resolution plan is likely to be submitted to the National Company Law Tribunal for approval within a week, sources told ET Now.
(Representational Image)  |  Photo Credit: BCCL
Key Highlights
Piramal s plan had received 94 per cent of votes from the CoC on January 15, making it the preferred bidder
The resolution plan was submitted to the RBI for approval in the last week of January, said sources
Piramal Enterprises is now a step closer to bagging the bankrupt housing finance company Dewan Housing Finance Limited (DHFL) after the Reserve Bank of India (RBI) approved the resolution plan submitted via its wholly-owned subsidiary Piramal Capital and Housing Finance. ....

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Adani Airports acquire 23.5% shareholding in Mumbai International Airport for Rs 1,685 crore


Adani Airports acquire 23.5% shareholding in Mumbai International Airport for Rs 1,685 crore
Adani Airports acquire 23.5% shareholding in Mumbai International Airport for Rs 1,685 crore
File Image
Adani Airport Holdings (AAHL), a wholly owned subsidiary of Adani Enterprises, has acquired 23.5 per cent stake in Mumbai International Airport (MIAL) from ACSA Global Limited (ACSA) and Bid Services Division (Mauritius) Limited (Bidvest), for Rs 1,685.25 crore, the company said in a regulatory filing. As per the regulatory filing, AAHL has bought 28,20,00,000 equity shares in MIAL.
We would like to inform that Adani Airport Holdings Limited (“AAHL”) the flagship holding company of Adani Group for its airports business and a Wholly Owned Subsidiary of Adani Enterprises Limited has acquired 23.5% equity stake i.e. 28,20,00,000 (Twenty Eight Crores Twenty Lakhs) Equity Shares of INR 10 (Indian Rupees Ten) of Mumbai International Airport Limited (“MIAL” ....

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Fair value of Piramal's bid lower by Rs 4,500 crore, says Oaktree in letter to DHFL CoC


Updated Jan 07, 2021 | 23:51 IST
Oaktree Capital in the letter says that the fair market value of its NCDs are higher as they are AAA rated in comparison to the AA rated NCDs of Piramal Enterprises.
Representational Image 
Key Highlights
According to Oaktree, the fair value of their bid stands at Rs 38,820 crore while it values Piramal s bid at Rs 34,318 crore
Oaktree has also said their resolution plan offers a clean structure and is unconditional. While Piramal Enterprises plan, the letter said, is conditional
In a fresh letter to the Committee of Creditors (CoC) of Dewan Housing Finance Limited (DHFL), dated January 6, Oaktree Capital has said that its bid is higher than that of Piramal Enterprises by Rs 4,500 crore on a Fair Market Value (FMV) basis. On both, a notional and FMV basis. our financial proposal is clearly higher than the financial proposal of the second-highest bidder, the letter said. ....

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After Piramal Group for DHFL, Oaktree raised money, email just before committee meeting | DHFL के लिए पीरामल ग्रुप के बाद ऑकट्री ने भी बढ़ाई रकम, कमेटी की बैठक से ठीक पहले किया ईमेल

After Piramal Group for DHFL, Oaktree raised money, email just before committee meeting | DHFL के लिए पीरामल ग्रुप के बाद ऑकट्री ने भी बढ़ाई रकम, कमेटी की बैठक से ठीक पहले किया ईमेल
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