Truhome Finance Limited, formerly known as Shriram Housing Finance Limited, has received the Securities and Exchange Board of India (SEBI) approval for its proposed initial public offering (IPO).
Truhome Finance IPO details
As per the paper filed with the market regulator, Truhome Finance is raising a total of Rs 3000 crore in the proposed IPO, comprising a fresh issue of equity shares of face value of Rs 10 each aggregating up to Rs 1500 crores and an offer for sale of equity shares of face value of Rs 10 each aggregating up to Rs 1500 crores.
The offer for sale by the promoter selling shareholder, Mango Crest Investment, comprises equity shares of a face value of Rs 10 each, aggregating to Rs 1,500 crores.
Proceeds utilization plan
Truhome Finance said the net proceeds are proposed to be utilized towards augmenting the capital base to meet the company’s future capital requirements, including general corporate purposes and onward lending, arising out of the growth of the business, and to ensure compliance with regulatory requirements on capital adequacy prescribed by the RBI from time to time.
The company added that the net proceeds are proposed to be deployed over the course of the financial years ending March 31, 2027, and March 31, 2028.
Truhome Finance business details
Founded in 2010, Truhome Finance is a retail-focused affordable housing finance company. The company was previously known as Shriram Housing Finance Limited, a wholly owned subsidiary of Shriram Finance Limited and was acquired in December 2024 by New York-based global private equity firm, Warburg Pincus.
