Emaar MGF Developers, a joint venture between Indian financier MGF and the UAE's Emaar Properties, and Indian real estate developers Sahara Prime City plan to raise up to 75 billion rupees ($1.5 billion), three sources said on Tuesday.

The two firms have filed papers with the stock market regulator for initial public offerings, the sources said.

A third real estate firm, Lodha Developers is also expected to file papers later this week for its IPO to raise up to 30 billion rupees, the sources with direct knowledge of the deals said.

In August, Dubai-based Emaar Properties had said its Indian joint venture will sell 10-to-15 per cent stake to raise about $800 million. – Reuters