India: Piramal writes to DHFL creditors opposing Adani's bid for the mortgage lender

Photo: Pradeep Gaur/Mint

Piramal Enterprises Ltd (PEL), which is bidding for assets of Dewan Housing Finance Ltd (DHFL), has opposed Adani group’s bid to acquire the entire portfolio of the mortgage lender, two people aware of the development said.

Piramal raised its objection before DHFL’s committee of creditors (CoC) a day after Adani Enterprises Ltd (AEL) told the committee of Adani’s intent to bid for the whole portfolio, which, if accepted, would put others in the fray, including SC Lowy, Oaktree Capital, and Piramal, out of the race.

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