DHFL acquisition to see Piramal Enterprises sharpen its retail focus

Completes acquisition; pays Rs 34,250 cr to creditors

Piramal Enterprises on Wednesday announced it has completed the acquisition of Dewan Housing Finance Corporation (DHFL) by paying a consideration of Rs 34,250 crore. The acquisition marks the first successful resolution of a financial services company under the Insolvency and Bankruptcy Code. 

This transaction will result in a 5x increase in Piramal’s retail book. It will also help it to achieve a lending book equally divided between retail and wholesale in the medium term, from a largely wholesale book. In the long term, the lending book will be focused on the retail side, with 67:33 retail to wholesale mix. 

“Our retail assets