DLF Ltd, the largest Indian developer, is planning to offload stake to private equity investors in its power venture DLF Utilities and in special purpose vehicles (SPVs) set up for some of its housing projects to generate funds.

The realtor would raise around $1-$1.25 billion from the power subsidiary and housing projects, and the final deal would be clinched by the middle of next month. Investment bank JPMorgan has been appointed to evaluate offers.

“DLF would raise around $500 million from the power business and around $750 million by diluting stake in residential projects to private investors,” a source familiar with the development told DNA Money on the condition of anonymity.

For DLF Utilities, the developer may sell convertible debt, which can be converted at the time of future listing. DLF Utilities is engaged in providing back-up power to DLF’s projects and currently has 24 MW of installed capacity. The capacity is expected to rise to 1300 MW in 5 years.

Meanwhile, DLF Assets, a holding company by DLF Ltd, is also close to striking a $750 million fund-raising deal. An announcement on this is expected in a “month’s time”, said sources. DLF Assets is the primary buyer of properties constructed by DLF.