{"id":54110,"date":"2021-10-01T06:26:38","date_gmt":"2021-10-01T06:26:38","guid":{"rendered":"https:\/\/www.gkseries.com\/blog\/?p=54110"},"modified":"2022-09-12T10:34:44","modified_gmt":"2022-09-12T05:04:44","slug":"piramal-group-acquires-dhfl-for-rs-34250-crore","status":"publish","type":"post","link":"https:\/\/www.gkseries.com\/blog\/piramal-group-acquires-dhfl-for-rs-34250-crore\/","title":{"rendered":"Piramal Group acquires DHFL for Rs 34,250 crore"},"content":{"rendered":"\n<p>Piramal has completed the acquisition of <strong>Dewan Housing Finance Limited <\/strong>(DHFL) for Rs 34,250 crore which includes a cash component and non-convertible debentures. This is the&nbsp;<strong>first successful resolution<\/strong>&nbsp;of a&nbsp;<strong>financial services company under the Insolvency and Bankruptcy Code (IBC).<\/strong><\/p>\n\n\n\n<p>The total consideration of Rs 34,250 crore includes an upfront cash payment of nearly Rs 14,700 crore and issuance of debt instruments of nearly Rs 19,550 crores (10-year NCDs at 6.75% p.a. on a half-yearly basis). The creditors of DHFL&nbsp;will recover an aggregate amount of Rs 38,000 crore from the DHFL\u2019s resolution, which includes Rs 34,250 crore paid by&nbsp;Piramal Enterprises&nbsp;and Rs 3,800 crore from the cash balance of&nbsp;DHFL.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Piramal has completed the acquisition of Dewan Housing Finance Limited (DHFL) for Rs 34,250 crore which includes a cash component and non-convertible debentures. This is the&nbsp;first successful resolution&nbsp;of a&nbsp;financial services company under the Insolvency and Bankruptcy Code (IBC). The total consideration of Rs 34,250 crore includes an upfront cash payment of nearly Rs 14,700 crore [&hellip;]<\/p>\n","protected":false},"author":894,"featured_media":54111,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1918],"tags":[4931,1921,107],"class_list":["post-54110","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-october-2021","tag-business-current-affairs","tag-dewan-housing-finance-limited","tag-finance-current-affairs"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/54110","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/894"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=54110"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/54110\/revisions"}],"predecessor-version":[{"id":54112,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/54110\/revisions\/54112"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/54111"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=54110"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=54110"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=54110"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}