Piramal Capital & Housing Finance Mobilize Rs 2,500 crore for DHFL Takeover
Piramal Capital and Housing Finance Ltd (PCHFL), a subsidiary of Piramal Enterprises Limited, has mobilised close to Rs 2,500 crore funds from banks like State Bank of India, Union Bank, Indian Bank, and other corporate investors to integrate Dewan Housing acquisition and also to expand into retail assets. The transaction is a part of the INR 34,250 crore bid by the Piramal Group subsidiary to acquire the housing finance company.
AZB & Partners advised Dewan Housing Finance and the administrator of DHFL appointed by the RBI together led by a team of partners Bahram Vakil, Nilang Desai, Suharsh Sinha, Anindita Roy Chowdhury, Nanditha Gopal, counsel Vivek Shetty, and senior associates Saloni Thakker, Amrita Sinha, Vatsala Rai. Trilegal acted for Piramal Capital & Housing Finance Ltd on the Indian competition law aspects in the insolvency. The Trilegal competition team was led by partner Nisha Kaur Uberoi, partner Gautam Chawla, senior associate Harshita Singh Parmar and associates Rahat Dhawan, Shambhvi Sinha, Aditi Khemani, Akrathi Shetty, and Simran Kathuria. The corporate team was led by partners Sridhar Gorthi and Ashwyn Mishra, advising on corporate and insolvency law aspects.