Mumbai, Oct. 2 -- Bajaj Finance's Board of Directors has approved proposals to raise up to Rs 17,500 crore through a combination of Qualified Institutional Placement (QIP) and preferential issue of warrants, the company said in an exchange filing.

The board approved the proposals at its meeting held on Thursday, subject to regulatory and statutory approvals, including approval from the company's shareholders.

Under the proposal, Bajaj Finance will raise up to Rs 11,700 crore through a QIP.

A QIP is a method through which a listed company raises capital by issuing equity shares to qualified institutional buyers, subject to applicable regulations.

The company has also approved a preferential issue of warrants for an aggregate amount of ...