When the third round of bids was opened, Oaktree's offer was the highest, but with several riders. While Piramal offered higher upfront cash and offered to merge its financial business with DHFL, Adani was ranked third in the race, reports Dev Chatterjee.
Adani, which had earlier bid only for the wholesale book, now want all of DHFL's assets and has pipped both Oaktree and Piramal by bidding higher than each of them.
