In December, HDFC Bank said it is planning to raise up to Rs24,000 crore through a combination of preferential allotment and qualified institutional placement (QIP). The bank said it will be raising nearly one-third (Rs8,500 crore) of the sum from parent Housing Development Finance Corp. Ltd (HDFC). “The bank will be launching its fund-raising very soon, likely around mid-March. They are waiting for regulatory approval, which should come this week,” said one of the people cited above, requesting anonymity as he is not authorized to speak to the media.

According to the second person cited above, HDFC Bank’s equity fund-raising will be a mix of a domestic qualified institutional placement (QIP) and overseas fund-raising via American depositary receipts/shares (ADR/ADS).

“Like the last time it raised funds from the markets, the share sale this time, too, would be a mix of a QIP and overseas fund-raising. Majority of the fund-raising will be through the overseas share sale,” he said. He, too, spoke on condition of anonymity.

In February 2015, HDFC Bank raised Rs10,000 crore through a mix of QIP and ADRs, with around Rs2,000 crore raised through the domestic QIP and the rest through an overseas share sale. “We don’t comment on market speculation/rumours,” said a spokesperson for HDFC Bank in an email response to Mint’s queries.

Indian banks have been busy raising funds in the past 12 months, with several large QIP offerings from both private sector and state-owned banks. Last year, State Bank of India raised Rs15,000 crore through a QIP, while private sector lenders Kotak Mahindra Bank raised Rs5,803 crore.

Another HDFC group firm—HDFC Asset Management Co. Ltd (HDFC AMC)—will be filing its so-called draft red herring prospectus for an IPO soon. HDFC AMC is a joint venture between mortgage lender HDFC and Standard Life Investments Ltd.

“HDFC AMC will be filing its DRHP in the next few days. The IPO, a pure offer for sale, will see the two JV partners sell stake worth around $550-600 million,” said the third person cited above, also requesting anonymity.

In November, HDFC and Standard Life said they plan to dilute their shareholding to at least 50.01% and 24.99% respectively, through dilution in one or more tranches. As of 30 September, HDFC held a 57.36% stake in the company, while Standard Life held 38.24% stake.

HDFC AMC manages total assets under management of Rs2,69,781 crore, of which Rs1,19,159 crore is in equity oriented funds, as of 30 September. HDFC AMC is also the second asset management company to go public, following the IPO of Reliance Nippon Life Asset Management Co. Ltd, which went public in October.

Transactions at the group follow the recent fund-raisings at the parent company HDFC.

On Tuesday, HDFC launched its QIP offering to raise Rs1,896 crore. It is also raising another Rs11,104 crore from top institutional investors like KKR, GIC and Premji Invest, among others.

HDFC will be issuing shares to these investors on a preferential allotment basis at a price of Rs1,726.05 a share, raising Rs11,104 crore. The preferential allotment represents 3.87% of HDFC’s enhanced equity share capital post the issue.