Oaktree escalates bid by 1700 crore, tough competition for Piramal in DHLF bidding

Oaktree Capital increased its offer for DHFL by Rs 1700 crore on Thursday. Despite the increase in bid value, recovery will be less than 40% of the admitted claims worth Rs 87,082 crore. Piramal Capital and Housing Finance Ltd has also raised its bid by Rs 1000 crore. The top two highest bidders for DHFL are the US-based Oaktree and Ajay Piramal-led Piramal Group are engaged in a war of words.