Piramal Group acquires DHFL for total consideration of Rs 34,250 cr

The creditors of DHFL will recover an aggregate amount of Rs 38,000 crore from the resolution

Piramal Enterprises said on Wednesday it had completed the acquisition of Dewan Housing Finance Limited (DHFL) by paying the consideration amount of Rs 34,250 crore. This marks the first successful resolution of a financial services company under the Insolvency and Bankruptcy Code (IBC). 

The total consideration paid by the Piramal Group of Rs 34,250 crores at the completion of the acquisition, includes an upfront cash component of Rs 14,700 crores and issuance of debt instruments of Rs 19,550 crores (10-year NCDs at 6.75% p.a. on a half-yearly basis).

In a statement to the exchanges, Piramal Enterprises said, the creditors of