Piramal group acquires DHFL, pays ₹14,700 crore in cash
The Hindu
Piramal Enterprises Ltd (PEL) on Wednesday said it has formally acquired the bankrupt Dewan Housing Finance Corporation Ltd (DHFL) by making the cash payment of ₹14,700 crore to creditors as per the r
Piramal Enterprises Ltd (PEL) on Wednesday said it has formally acquired the bankrupt Dewan Housing Finance Corporation Ltd (DHFL) by making the cash payment of ₹14,700 crore to creditors as per the resolution plan.
DHFL has been acquired by Piramal for total consideration of ₹34,250 crore which includes an upfront cash component of ₹14,700 crore paid on Wednesday and issuance of debt instruments of ₹19,550 crore (10-year NCDs at 6.75% p.a. on a half-yearly basis).
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