UPDATE 1-India's Lodha Developers aims to launch IPO in Dec

* Expects regulator's nod for IPO by end of November

* Will look to rope in anchor investors for IPO

* 16 Indian developers plan to raise $6 bln in next few mths (Adds detail, quotes)

By Prashant Mehra

MUMBAI, Nov 11 (Reuters) - India's Lodha Developers hopes to launch an initial public offering to raise up to 30 billion rupees ($640 million) in December, encouraged by a revival in demand for homes, a top company official said on Wednesday.

The Mumbai-based builder, which focuses on high-end residential apartments in and around India's financial capital, will use the proceeds for retiring debt, to fund fresh land acquisitions and for working capital for existing projects.

"We hope to get approval from the regulator by November-end. We can then launch by mid-December. Otherwise, we will launch by mid-January," Managing Director Abhisheck Lodha told Reuters.

"The size of the company now demands good quality capital for growth."

At least 16 Indian developers have filed papers for public offers in the past two months, looking to raise a total of about $6 billion, following a revival in demand for homes in markets such as Mumbai and New Delhi.