Warburg-backed Truhome Finance has initiated its IPO process, aiming to raise up to Rs 30 billion through a mix of fresh equity and an offer-for-sale. Leading investment banks including JM Financial, Jefferies, IIFL Capital, and Kotak Mahindra Capital are managing the issue, with valuation expectations of up to $1.5 billion.
Truhome Finance Ltd, backed by Warburg Pincus, has filed draft papers with SEBI for a public listing that could raise up to Rs 30 billion. The IPO will be managed by JM Financial, Jefferies, IIFL Capital, and Kotak Mahindra Capital, combining a fresh issue of shares and an offer-for-sale by existing investors. Formerly known as Shriram Housing Finance, the company is positioning itself as a major player in India’s affordable housing finance sector, aiming to strengthen its capital base and expand its lending footprint.
Key Highlights
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Fresh issue of shares worth up to Rs 15 billion to support growth and lending operations
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Offer-for-sale of shares worth Rs 15 billion by Mango Crest Investment, an affiliate of Warburg Pincus
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Total IPO size estimated at Rs 30 billion (approx. $300 million), with valuation targets of up to $1.5 billion
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Bookrunners include JM Financial, Jefferies, IIFL Capital, and Kotak Mahindra Capital, ensuring strong institutional participation
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Truhome Finance’s loan book stood at Rs 20,000 crore as of October 2025, making it the third-largest affordable housing lender in India
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Listing expected in 2026, subject to regulatory approvals and market conditions
The IPO marks a strategic step to unlock value for Warburg Pincus while positioning Truhome Finance for long-term growth in India’s housing finance market.
Sources: MoneyControl, Bloomberg, Webull