Truhome Finance Limited, an affordable housing finance company backed by Warburg Pincus, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise ₹3,000 crore through an initial public offering (IPO).
The proposed IPO comprises a fresh issue of equity shares aggregating up to ₹1,500 crore and an offer for sale (OFS) of equity shares worth ₹1,500 crore by promoter selling shareholder Mango Crest Investment Limited. The shares have a face value of ₹10 each.
The company intends to utilise the net proceeds from the fresh issue to strengthen its capital base to support future business growth, including onward lending and general corporate purposes, while also ensuring compliance with capital adequacy norms prescribed by the Reserve Bank of India (RBI). The proceeds are expected to be deployed across the financial years ending March 31, 2027 and March 31, 2028.
Founded in 2010, the company was earlier known as Shriram Housing Finance Limited, a wholly owned subsidiary of Shriram Finance Limited, before being acquired by global private equity firm Warburg Pincus in December 2024 and subsequently rebranded as Truhome Finance.
Truhome Finance focuses on retail affordable housing finance and offers secured lending products including housing loans and loans against property. As of December 31, 2025, the company had assets under management (AUM) of ₹21,124.32 crore, making it the third largest affordable housing finance company in India by AUM. It has also been the fastest growing player in the segment with an AUM CAGR of 48.58% over FY23–FY25.
The company operates through a pan-India network of 216 branches across 19 states and union territories and has served over 110,000 customers. Its customer base is largely self-employed borrowers, who contribute nearly 77% of its AUM.
For the nine months ended December 2025, Truhome Finance reported a profit after tax of ₹333.53 crore, with return on assets of 2.66% and annualised return on equity of 11.62%.
JM Financial, IIFL Capital Services, Jefferies India and Kotak Mahindra Capital are the book-running lead managers to the issue.
