This now leaves 23 suitors in fray who have expressed interest to buy DHFL.

DHFL bonds were traded in two tranches on Thursday and Friday last week at 80-73 per cent discounts.

This is the fourth straight day of gains for the stock.

The company had entered an agreement with Prudential Financial to divest its 50 per cent holding in DHFL Pramerica Asset Managers (DPAMPL).

Funds dealing in distressed assets seem to be the buyers of DHFL debt in the secondary market.

EPFO had invested about Rs 1,300 crore in DHFL bonds about five years ago through private deals.

The secondary market trade took place late in the afternoon on Tuesday.

On Tuesday, DHFL paid Rs 962 crore as interest on some of the debentures.

The company has payment obligations exceeding Rs 2,000 crore coming up in June and July.

The sudden drop in DHFL bond prices has created an opportunity for investors.

DHFL raised about half its funding requirements from the debt capital market.

Investors can surrender the DHFL issue after one year while the issuer too can withdraw it after the stipulated period.

The company Friday had also assured that it has not defaulted on any bonds or repayment.

DHFL's aggressive growth over the last few years have been also reflected in CARE AAA rating.

A spokesman for LIC said that it's mandatory for the institution to invest at least 15% of its life fund in infra and housing sector.

The 10-year debt paper offered an annual coupon return of 8% when other DHFL debt papers of similar or even lower tenors were being traded ...

The company may close the bond sale on Tuesday with only limited space left for new retail investors.