Promoters of Manipal Health Enterprises Pvt Ltd, the Pai family, are in talks with a clutch of banks led by Barclays PLC (LSE:BARC) to raise $400-500 million, as they seek to buy back half the shares held by TPG Capital in India's second-largest hospital chain, people aware of the matter said. Deutsche Bank Aktiengesellschaft (XTRA:DBK), DBS Group Holdings Ltd. (SGX:D05), NOMURA Co., Ltd. (TSE:9716) and Standard Chartered PLC (LSE:STAN) have also been approached, the people told ET. The fundraise, which will be a syndicated acquisition financing facility, will be priced after the Ranjan Pai-led group finalises buyback terms. Manipal Hospitals, TPG and the banks did not comment.