Warbug Pincus-backed Truhome Finance files draft papers for IPO
10 Mar 2026, 12:32 PMThe IPO comprises of fresh issue of shares worth up to Rs 1,500 crore, and an offer for sale (OFS) worth up to Rs 1,500 crore.
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Truhome Finance, formerly known as Shriram Housing Finance Ltd, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) worth Rs 3,000 crore.
The Warburg Pincus-backed housing finance company will issue fresh shares worth up to Rs 1500 crore, and conduct an offer for sale (OFS) of equity shares worth up to Rs 1500 crore with promoter Mango Crest Investment Ltd selling out.
The capital raise will go towards expanding the lender's capital base to support general corporate lending and onward lending, and comply with the Reserve Bank of India's capital adequacy norms.
The affordable housing lender was founded in 2010, and was acquired by American international private equity firm Warburg Pincus in 2024. It focuses on serving low and middle income Indians with housing finance, mortgage, loan against property, home loans, construction finance, home improvement loans, and balance transfer.
The company's revenue from operations grew to Rs 1,904.5 crore in FY25 from Rs 1,424.8 crore in FY24 and Rs 779.4 crore in FY23. It revenue from operations in the nine months ended December 31, 2025 was at 1,807.3 crore.
Truhome Finance posted a net profit of Rs 286.2 crore, Rs 217.4 crore and Rs 137.7 crore in FY25, FY24 and FY23, respectively. Notably, in the nine months ended December of this fiscal, the company's net profit was at Rs 333.5 crore, already surpassing its full-year FY25 profit.
The book running lead managers for the public issue are JM Financial, IIFL Capital Services, Jefferies India and Kotak Mahindra Capital.
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