HDFC has received the approval of the Foreign Investment Promotion Board to allot 1.09 crore warrants to qualified institutional buyers resident outside India on a private placement basis.

HDFC plans to raise Rs 4,301.23 crore through issue of non-convertible debentures and warrants to qualified institutional buyers. The housing finance firm would raise Rs 301.23 crore by issue of warrants and Rs 4,000 crore.