HDFC converts warrants upto Rs 3,285 crore

HDFC has alloted 5.47 crore shares worth Rs 3,285 crore on conversion of warrants on maturity to holders.

HDFC had issued warrants, along with non-convertible debentures (NCDs) of Rs 10 lakh each, to qualified institutional buyers in August 2009.

The issue, comprising zero coupon NCDs, aggregated to Rs 4,000 crore. Out of this Rs 2,000 crore NCDs were redeemed in August 2011 and the balance Rs 2,000 crore were redeemed on August 24 this year, HDFC said.