Lenders to consider revised evaluation matrix for DHFL

March 13, 2020 7:38 AM

In the earlier evaluation matrix, 35% weightage was given to NPV, while 30% weightage was given to cash upfront. All the other parameters remained the same as per earlier approved evaluation criteria for bidders.

dhfl, ncltThe qualitative parameters include track record of resolution applicant and its key management personals.

By Ankur Mishra

Lenders to the beleaguered Dewan Housing Finance (DHFL) discussed the revised evaluation matrix of bidders in the committee of creditors’ (CoC) meeting held on March 11. During the meeting, it was decided that 5% more weightage will be given to net present value (NPV), compared with the previous plan. The new evaluation criteria gives 40% weightage to NPV, 30% weightage to cash upfront, 10% for capital infusion, 5% to equity stake and remaining 15% evaluation will be done based on qualitative parameters.

The qualitative parameters include track record of resolution applicant and its key management personals. In the earlier evaluation matrix, 35% weightage was given to NPV, while 30% weightage was given to cash upfront. All the other parameters remained the same as per earlier approved evaluation criteria for bidders.

FE has learned that 24 applicants had submitted expressions of interest (EoIs) for DHFL. The company had given the option to bidders to bid for the whole company or in parts. Under Option I, suitors were invited to submit EoIs for the entire business of DHFL. Under Option II, prospective resolution applicants were invited to submit EOIs for one or more groups or a combination of any assets in isolation across different groups of DHFL.

Of the 24 applicants, 14 had submitted EoIs for the entire business of DHFL. KKR India Financial Services, Welspun Group, Adani Group, Oaktree Capital, ARCIL Asset Reconstruction Company and Bain Capital were among the suitors who placed EOIs under Option I to take over the entire business.

Any resolution applicant will have to keep `500-crore earnest money deposit to bid for the whole company. If the bid is made in combination of two or more parts, `550 crore needs to be deposited. The minimum deposit is `100 crore for the SRA category.

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