In the latest round of bidding for assets of Dewan Housing Finance Corporation Limited (NSEI:DHFL) on December 14, 2020, three of the four bidders submitted revised offers to acquire the entire business of the troubled mortgage financier, according to two people aware of the matter. Oaktree Capital Management, L.P. has bid INR 327,000 million, While Piramal Enterprises Limited (BSE:500302) has offered INR 323,500 million and Adani Enterprises Limited (BSE:512599) offered INR 298,600 million to buy the entire portfolio of DHFL. SC Lowy, the fourth bidder, has made no changes to its offer.

Adani Group has also submitted a separate offer for the wholesale and slum rehabilitation projects controlled by DHFL. Piramal Group, too, has submitted a fresh bid for the retail assets controlled by the home financier, apart from its offer for the full loan book. Revised bids were called after Adani's unsolicited offer to buy the entire company instead of the select assets it had bid on earlier.

In the previous round, Oaktree Capital had bid INR 310,000 million for the entire portfolio, while Piramal Enterprises had offered INR 260,000 million. Adani had bid INR 27,000 million for the wholesale and SRA book and SC Lowy has upped its bid for the non-SRA book to INR 23,000 million from INR 15,000 million earlier. But, in a sudden move, Adani decided to bid INR 2,500 million more than Oaktree for the entire firm, which led to lenders calling for the fourth round of bidding.