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New Delhi12 hours earlier
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The Reserve Bank of India (RBI) has approved the acquisition of Dewan Housing Finance to Ajay Piramal’s Piramal Group. The approval comes nearly 1 month after the Piramal Group won the bid to acquire Housing Finance Corporation Limited (DHFL). On 15 January, the Piramal Group won the bid to buy the debt-ridden Diwan DHFL.
Oaktree Capital’s offer more, yet was not approved
Oaktree Capital had bid 38.40 thousand crore rupees for DHFL while Piramal bid 37.25 thousand crore rupees. But he got only 45% of the votes in the bank committee. A minimum of 66% of the votes were needed to win the bid. Piramal’s bid received 94% of the vote.
About 91 thousand crore rupees loan on DHFL
DHFL has a debt of 91 thousand crores. This includes money from banks, national housing boards, mutual funds and bond holders. State Bank of India (SBI) has the highest debt on DHFL. According to the annual report, DHFL had assets worth Rs 79,800 crore as of March 2020. Out of this, non-performing assets (NPAs) of Rs 50,227 crore or 63% of the total portfolio have been declared.
Whose debt is on DHFL
|State Bank of India||10083|
|Bank of india||4125|
|National Housing Board||2434|
|Bank of baroda||2075|
Note: The amount is in crores of rupees.