NEW DELHI: Truhome Finance, backed by private equity firm Warburg Pincus, has submitted preliminary documents to the Securities and Exchange Board of India (Sebi) seeking to raise ₹3,000 crore through an initial public offering (IPO).
The IPO consists of a fresh issue of equity shares totaling ₹1,500 crore and an offer for sale (OFS) of equity shares also valued at ₹1,500 crore from its promoter, Mango Crest Investment Ltd, as detailed in the draft red herring prospectus (DRHP).
The funds raised from the fresh share issue will be used to strengthen the capital base to satisfy future funding needs, including lending and corporate expenses, while also ensuring adherence to capital adequacy standards set by the Reserve Bank of India (RBI).
The raised capital is anticipated to be utilized over the financial years concluding on March 31, 2027, and March 31, 2028, as per the draft documents.
Established in 2010, Truhome Finance is a retail-centric affordable housing finance provider, previously known as Shriram Housing Finance, a subsidiary of Shriram Finance. It was acquired in December 2024 by New York-based Warburg Pincus.
The company offers various lending options, including housing loans and loans against property, with an average ticket size of ₹2.13 million as of December 31, 2025.
Truhome Finance serves its clients through a nationwide network of 216 branches located in metropolitan, Tier I, Tier II, and Tier III cities across 19 states and Union Territories.
Notably, three states—Maharashtra, Gujarat, and Tamil Nadu—accounted for nearly half of its assets under management (AUM) as of December 31, 2025.
As of the same date, Truhome Finance is recognized as the third-largest affordable housing finance company in the country by AUM, boasting a total asset base exceeding ₹21,124 crore.
The company’s financial performance includes a total income of ₹1,905.48 crore and a net profit of ₹286.24 crore.
Recently, Truhome Finance appointed Dinesh Kumar Khara, the former Chairman of State Bank of India (SBI), as its chairperson for a five-year term. The management team is directed by Managing Director and CEO Ravi Subramanian, who has over 30 years of experience in financial services and has been with the Shriram Group since 2010.
JM Financial, IIFL Capital Services (previously IIFL Securities), Jefferies India, and Kotak Mahindra Capital Company are the lead managers for the issue.
