The latest round of bidding for assets owned by Dewan Housing Finance Corp. has garnered offers from three of the four bidders, according to two people with direct knowledge of the matter.

Oaktree Capital Management, Piramal Group and Adani Group have submitted fresh offers for all of DHFL’s loan assets, the people told BloombergQuint on the condition of anonymity.

Adani Group has also submitted a separate offer for the wholesale and slum rehabilitation projects controlled by DHFL. Piramal Group, too, has submitted a fresh bid for the retail assets controlled by the home financier, apart from its offer for the full loan book.

According to the norms laid out by the financial creditors of DHFL, bidders may choose to submit bids for specific assets of the company, or may even bid for the entire loan book. The offer which gives lenders the most returns would be considered as the final bid.

Later on Monday, the lenders will be hearing presentations from all the bidders as they try to understand the salient features of the plans so they may assess them over the next few days, the people quote above said. Once all lenders have completed their independent assessments, the preferred plans will be put on vote to determine the highest bidder, they said.

SC Lowy, the fourth bidder, which has so far been actively participating in the bidding process, has not submitted any fresh bid in the current round, the people said.

Oaktree Capital, Adani Group, Pirmala Group and DHFL’s administrator have yet to respond to BloombergQuint’s queries emailed on Monday morning.

Outstanding loans on DHFL’s lending book stand at more than Rs 87,000 crore, which include retail loans worth over Rs 30,000 crore. The company went under insolvency in November last year, after the Reserve Bank of India asked lenders to initiate proceedings. The insolvency process has seen delays owing to the Covid-19 pandemic.

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