Piramal Enterprises announced that Piramal Capital & Housing Finance (PCHFL), wholly owned subsidiary of the Company had been declared
as the Successful Resolution Applicant in relation to the Corporate Insolvency Resolution Process ('CIRP') of Dewan Housing Finance Corporation ('DHFL') under the Insolvency & Bankruptcy Code, 2016.
PCHFL has discharged the consideration to the creditors of DHFL pursuant to the resolution plan.
The total consideration paid by the Piramal Group of Rs 34,250 crore at the completion of the acquisition, includes an upfront cash component of Rs 14,700 crore and issuance of debt instruments of Rs 19,550 crore (10-year NCDs at 6.75% p.a. on a half-yearly basis).
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