SBI draws from Binani Cement deal, backs another bidding round for DHFL

Lender has the highest exposure to the bankrupt firm, want to maximise asset's value

Backed by the value maximisation experience during Binani Cement's sale to Ultratech, the State Bank of India, which has the largest exposure to bankrupt Dewan Housing Finance Corporation (DHFL), has decided to back yet another round of bidding for the housing finance company so that the asset's value can be maximised.

According to a lender source, the SBI representative said in the CoC (committee of creditors) meeting that all the bids received till now needs to be opened and a final round of bidding also needs to be done -- subject to CoC's approval based on voting.  SBI has the