Runwal Developers, the Sandeep Runwal-promoted real estate firm, has filed preliminary papers with the Securities and Exchange Board of India (SEBI) to launch an initial public offering (IPO) worth Rs 20 billion, aimed at reducing its debt burden and funding growth plans. The Mumbai-based developer intends to raise Rs 17 billion through the issue of fresh shares, while promoter Sandeep Subhash Runwal will offload shares worth Rs 3 billion via an offer-for-sale (OFS). As part of the fresh issue component, the company may also consider raising up to Rs 3.4 billion in a pre-IPO placement ahead of the public offer. Incorporated in 1988, Runwal Developers has a diversified portfolio of residential, commercial, and retail projects across the Mumbai Metropolitan Region (MMR) and Pune. Accor

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