The administrator at Dewan Housing Finance Corporation Limited (NSEI:DHFL) has sent formal letters to the four existing bidders of the troubled mortgage financier, seeking revised purchase offers for the fourth time. Potential buyers need to respond by December 14, 2020. Lenders to DHFL expect Adani Enterprises Limited (BSE:512599) (Adani Group) and Oaktree Capital Management, L.P. to submit new offers.

Piramal Enterprises Limited (BSE:500302) (Piramal Group), one of the four that remained until round three, is yet to firm up its mind on the type of bid to be made, industry sources told ET. Lenders expect the fourth round of bids to lift the offer price by about 5-10%. “Lenders are already talking to the four bidders informally to gauge their keenness on revised offers,” one of the executives cited above told ET.

Some of them apparently questioned the rationale behind seeking bids for the fourth time after having sought a “final round” of bids earlier, said an executive aware of the developments. In the fourth round of bids, potential buyers can bid for any of the four categories " the whole company, retail assets, wholesale loans and slum rehabilitation projects. DHFL did not comment.

SC Lowy had earlier offered to buy the wholesale loan book for INR 23 billion. Later, it wrote to the lenders and the administrator intending to withdraw its offer, ET reported on November 26, 2020.