TruHome Finance IPO is a proposed Mainboard Book Built public issue by TruHome Finance Limited, formerly known as Shriram Housing Finance Limited. The proposed public issue comprises a fresh issue of equity shares aggregating up to ₹1,500 crore and an Offer for Sale of equity shares aggregating up to ₹1,500 crore, taking the total proposed issue size to ₹3,000 crore. The equity shares are proposed to be listed on both BSE and NSE.
The fresh issue proceeds are proposed to be used to augment the capital base of the company to meet future capital requirements, including onward lending arising from the growth of the business. The Offer for Sale is proposed to be undertaken by Mango Crest Investment Ltd, the promoter and sole selling shareholder under the DRHP.
TruHome Finance Limited is an affordable housing finance company focused on providing secured lending solutions to customers in India. The company offers housing loans, loans against property and other secured lending products, with a particular focus on self-employed customers and borrowers in semi-urban and peri-urban markets. As of March 31, 2026, the company reported assets under management of ₹22,634 crore.
The company operates through a technology-enabled pan-India distribution network. As of March 31, 2026, TruHome Finance had 224 branches across 16 states, while its December 2025 DRHP disclosures reported 216 branches across 19 states and union territories. The company serves a diversified customer base, with self-employed borrowers forming a significant portion of its lending portfolio.
India’s affordable housing finance sector continues to benefit from rising housing demand, urbanisation, increasing formalisation of income, government initiatives, and the need for secured credit among underserved borrowers. At the same time, housing finance companies face risks related to interest rates, asset quality, funding costs, regulatory requirements, competition, and credit losses. Investors should evaluate these factors along with the company’s financial performance and IPO valuation before making an investment decision.
Table of Contents
IPO Details
| IPO Details | Information |
|---|---|
| IPO Name | TruHome Finance IPO |
| Company Name | TruHome Finance Limited |
| IPO Type | Book Built Issue |
| IPO Category | Mainboard IPO |
| Face Value | ₹10 Per Equity Share |
| Price Band | |
| Issue Size | ₹3,000 Crore |
| Fresh Issue | ₹1,500 Crore |
| Offer for Sale | ₹1,500 Crore |
| IPO Open Date | |
| IPO Close Date | |
| Anchor Investor Bidding | |
| Basis of Allotment | |
| Refund Initiation | |
| Shares Credited to Demat Account | |
| Listing Date | |
| Listing Exchange | BSE & NSE |
| Lot Size | |
| Registrar | KFin Technologies Limited |
| Book Running Lead Managers | JM Financial Limited, IIFL Capital Services Limited, Jefferies India Private Limited and Kotak Mahindra Capital Company Limited |
The Draft Red Herring Prospectus dated March 9, 2026 confirms that TruHome Finance is proposing a 100% book-built issue comprising a fresh issue of up to ₹1,500 crore and an Offer for Sale of up to ₹1,500 crore. The price band and minimum bid lot will be decided later in consultation with the Book Running Lead Managers.
TruHome Finance IPO Dates
| IPO Event | Date |
|---|---|
| Anchor Investor Bidding | |
| IPO Opening Date | |
| IPO Closing Date | |
| Basis of Allotment | |
| Refund Initiation | |
| Shares Credited to Demat Account | |
| Listing Date |
The final TruHome Finance IPO timeline has not been announced. The company will announce the price band, bidding period, anchor investor date, allotment date and listing date before the public issue opens for subscription.
TruHome Finance IPO Reservation
| Investor Category | Reservation |
|---|---|
| Qualified Institutional Buyers (QIB) | Not Less Than 50% |
| Non-Institutional Investors (NII) | Not Less Than 15% |
| Retail Individual Investors (RII) | Not Less Than 35% |
| Employee Reservation Portion |
The DRHP provides for not less than 50% of the Net Offer to be available for allocation to QIBs, not less than 15% to Non-Institutional Bidders and not less than 35% to Retail Individual Bidders, subject to the applicable SEBI ICDR provisions. An Employee Reservation Portion is also provided for eligible employees, with the final allocation details subject to the offer documents.
TruHome Finance IPO Lot Size
| Application | Shares | Amount |
|---|---|---|
| Retail Minimum | ||
| Retail Maximum | ||
| S-HNI Minimum |
The minimum bid lot and price band have not been announced. The minimum and maximum application amounts will be calculated after the company announces the final price band and lot size.
About TruHome Finance Limited
TruHome Finance Limited, formerly known as Shriram Housing Finance Limited, is a retail-focused affordable housing finance company incorporated in 2010. The company is registered as a non-deposit-taking housing finance company and focuses on providing secured lending products to customers across India.
The company offers housing loans, loans against property and other secured lending products. Its target customer segment primarily consists of self-employed customers and borrowers in semi-urban and peri-urban markets. The company uses a technology-enabled operating model and a diversified branch network to reach customers across different regions of India.
TruHome Finance was formerly part of the Shriram Group and was acquired by Mango Crest Investment Ltd, an affiliate of Warburg Pincus. Following the acquisition, the company was rebranded from Shriram Housing Finance to TruHome Finance. Mango Crest Investment Ltd is the promoter of the company and is also the selling shareholder under the proposed OFS.
The company has expanded its loan book and branch network significantly over the past few years. Its AUM increased from ₹8,047 crore in FY2023 to ₹17,763 crore in FY2025 and ₹22,634 crore as of March 31, 2026.
Business Operations
TruHome Finance Limited operates an affordable housing finance business focused on secured lending.
• Housing Loans – The company provides housing finance for the purchase, construction and other eligible purposes relating to residential properties.
• Loans Against Property – The company provides secured loans against residential and other eligible properties for customers requiring funds for business and personal requirements.
• Affordable Housing Finance – The company focuses on customers who may have limited access to traditional formal credit and serves borrowers across semi-urban and peri-urban markets.
• Self-Employed Customer Lending – A significant portion of the company’s lending is focused on self-employed customers, supported by its underwriting and credit assessment capabilities.
• Technology-Enabled Lending – The company uses technology across customer sourcing, credit assessment, loan processing, servicing, collections and other stages of the lending lifecycle.
• Pan-India Distribution Network – TruHome Finance uses a branch-based distribution model supported by digital and technology-enabled processes.
• Customer Service and Collections – The company maintains systems for loan servicing, customer engagement, monitoring and collections across its lending portfolio.
• Secured Credit Products – The company primarily operates through secured lending products backed by property, which forms the foundation of its housing finance business.
Industry Overview
India’s affordable housing finance market has expanded as more households seek formal housing credit and financial institutions extend their reach into Tier II, Tier III and semi-urban markets.
The sector benefits from increasing urbanisation, rising household incomes, greater formalisation of financial activity, government support for affordable housing and growing demand for home ownership. Housing finance companies can play an important role in extending secured credit to borrowers who may have limited access to traditional banking channels.
The industry also faces challenges including changes in interest rates, funding costs, credit risk, asset quality, regulatory requirements and competition from banks and other housing finance companies.
For affordable housing lenders, underwriting capabilities, collections infrastructure, branch reach, cost of funds, portfolio diversification and asset quality are important factors that can influence long-term operating performance.
Business Strategy
TruHome Finance focuses on expanding its affordable housing finance franchise by increasing its customer reach, strengthening its distribution network and growing its secured loan portfolio.
The company aims to use its technology-enabled operating platform and credit underwriting capabilities to serve self-employed and other customers in underserved markets.
The company also focuses on maintaining asset quality through credit assessment, monitoring and collection systems while expanding its presence across geographic markets.
The proposed IPO fresh issue is intended to augment the company’s capital base to meet future capital requirements, including onward lending arising from business growth.
TruHome Finance IPO Financial Information
A company’s financial performance provides valuable insights into revenue growth, profitability, asset quality, capitalisation and financial stability. For a housing finance company, investors should also evaluate assets under management, net interest income, borrowing levels, capital adequacy and non-performing assets.
TruHome Finance Financial Summary
| Particulars | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Total Income | ₹1,425.35 Crore | ₹1,905.48 Crore | ₹1,807.36 Crore* |
| EBITDA | ₹1,037.30 Crore | ₹1,352.37 Crore | |
| Profit Before Tax (PBT) | ₹290.32 Crore | ₹370.39 Crore | |
| Profit After Tax (PAT) | ₹217.44 Crore | ₹286.24 Crore | ₹333.54 Crore* |
| Net Worth | ₹1,923.73 Crore | ₹3,436.62 Crore | ₹4,182.73 Crore* |
| Total Borrowings | ₹9,617.17 Crore | ₹11,324.49 Crore | ₹13,487.86 Crore* |
| Assets Under Management | ₹13,761.68 Crore | ₹17,763.97 Crore | ₹21,124.33 Crore* |
*FY2026 figures shown above relate to the nine-month period ended December 31, 2025 where applicable, and therefore should not be treated as full-year FY2026 figures. The company subsequently reported AUM of ₹22,634 crore as of March 31, 2026.
The company has reported strong growth in income and profitability over the last three completed financial years. Total income increased from ₹780.50 crore in FY2023 to ₹1,425.35 crore in FY2024 and ₹1,905.48 crore in FY2025. PAT increased from ₹137.75 crore in FY2023 to ₹217.44 crore in FY2024 and ₹286.24 crore in FY2025.
The company’s loan book and AUM have also expanded significantly. AUM increased from ₹8,047 crore in FY2023 to ₹17,763 crore in FY2025 and ₹22,634 crore as of March 31, 2026.
TruHome Finance IPO Key Performance Indicators (KPIs)
Key Performance Indicators help investors assess the company’s profitability, asset quality, capitalisation, operating efficiency and financial strength. These ratios provide additional insights into the performance of the housing finance business.
| KPI | Value |
|---|---|
| Return on Equity (ROE) | 10.68% |
| Return on Capital Employed (ROCE) | |
| Return on Net Worth (RONW) | 8.33% |
| EBITDA Margin | 70.98% |
| PAT Margin | 15.02% |
| Debt-to-Equity Ratio | 3.30 |
| Earnings Per Share (EPS) | ₹7.33 |
| Net Asset Value (NAV) Per Share | |
| Price to Earnings (P/E) |
The company reported ROE of 10.68% and RONW of 8.33% for FY2025. The debt-to-equity ratio was 3.30 times as of March 31, 2025. The company’s FY2025 diluted EPS was ₹7.33.
Pre-IPO EPS
₹7.33 based on FY2025 diluted earnings per share.
Post-IPO EPS
The post-IPO EPS will depend on the final issue price, number of fresh shares issued and resulting post-issue share capital.
Pre-IPO P/E
The pre-IPO P/E cannot be calculated until the company announces the final IPO price.
Post-IPO P/E
The post-IPO P/E will be calculated using the final IPO price and post-issue EPS.
Objects of the TruHome Finance IPO
The company proposes to utilise the Net Proceeds from the fresh issue for the following purpose:
• Augmenting the capital base of the company to meet future capital requirements, including onward lending arising from the growth of the business.
The Offer for Sale proceeds will be received by Mango Crest Investment Ltd, the selling shareholder, and will not form part of the company’s funds.
TruHome Finance IPO Listing Performance
The listing performance reflects how the company’s shares perform on the stock exchanges after the IPO. While initial listing movement reflects market demand around the issue, long-term performance depends on business growth, asset quality, profitability, funding costs, capitalisation and execution.
| Particular | Value |
|---|---|
| Listing Exchange | BSE & NSE |
| Listing Date | |
| Issue Price | |
| Listing Price | |
| Listing Gain | |
| Listing Gain (%) |
The listing performance will be available after TruHome Finance completes its public issue and its equity shares commence trading on the stock exchanges.
TruHome Finance IPO Subscription Status
The subscription figures indicate the level of investor participation received during the IPO bidding period. Subscription data across QIB, NII, retail and employee categories will become available only after the public issue opens for subscription.
TruHome Finance IPO Subscription
| Investor Category | Subscription |
|---|---|
| Qualified Institutional Buyers (QIB) | |
| Non-Institutional Investors (NII) | |
| Retail Individual Investors (RII) | |
| Employee Category | |
| Total Subscription |
The final subscription figures will be available after the IPO opens and closes for bidding.
TruHome Finance IPO Review
TruHome Finance Limited is an affordable housing finance company focused on secured lending products including housing loans and loans against property. The company primarily serves self-employed and other customers in semi-urban and peri-urban markets through its branch and technology-enabled distribution network.
The company has demonstrated significant growth in its loan portfolio and financial performance. Total income increased from ₹780.50 crore in FY2023 to ₹1,905.48 crore in FY2025, while PAT increased from ₹137.75 crore to ₹286.24 crore over the same period. AUM increased from ₹8,047 crore in FY2023 to ₹17,763 crore in FY2025.
TruHome Finance also strengthened its capital position following the change in ownership and subsequent capital infusion. Net worth increased from ₹1,923.73 crore in FY2024 to ₹3,436.62 crore in FY2025 and ₹4,182.73 crore as of December 31, 2025.
The company operates in the affordable housing finance sector, which has long-term demand drivers from housing requirements, urbanisation and increasing formal credit penetration. However, investors should consider risks relating to interest rates, funding costs, asset quality, concentration, competition, regulatory changes and the company’s relatively leveraged balance sheet.
Overall, TruHome Finance has recorded growth in AUM, income and profitability and has established a sizeable affordable housing finance platform. Investors should carefully evaluate the final IPO valuation, capitalisation, asset quality, funding profile and future lending growth before making an investment decision.
TruHome Finance IPO Strengths
• Established affordable housing finance company with a sizeable secured lending portfolio.
• Strong growth in AUM, which increased from ₹8,047 crore in FY2023 to ₹17,763 crore in FY2025.
• Consistent growth in profitability, with PAT increasing from ₹137.75 crore in FY2023 to ₹286.24 crore in FY2025.
• Focus on self-employed and underserved borrowers across semi-urban and peri-urban markets.
• Technology-enabled lending platform supported by a diversified branch network.
• Stronger capital base following the change in ownership and capital infusion.
TruHome Finance IPO Risk Factors
• The company operates in a competitive housing finance and lending market.
• Changes in interest rates and borrowing costs can affect net interest margins and profitability.
• Deterioration in asset quality or increase in non-performing assets may affect financial performance.
• The business depends substantially on access to funding for continued loan growth.
• Regulatory changes applicable to housing finance companies can affect business operations and capital requirements.
• The company has significant borrowings and operates with a leveraged balance sheet.
TruHome Finance IPO Promoters
Mango Crest Investment Ltd is the promoter of TruHome Finance Limited and is affiliated with Warburg Pincus. Mango Crest acquired the company from Shriram Finance and became the controlling shareholder following the transaction. Mango Crest Investment Ltd is also the promoter selling shareholder under the proposed Offer for Sale.
TruHome Finance IPO Promoters Details
| Promoter | Designation |
|---|---|
| Mango Crest Investment Ltd | Promoter |
TruHome Finance IPO Management Team
The company is led by a management team with experience in housing finance, banking, financial services, credit, risk management and business operations.
| Name | Designation |
|---|---|
| Dinesh Kumar Khara | Chairman |
| Managing Director & Chief Executive Officer | |
| Puja Kirit Shah | Company Secretary & Compliance Officer |
The company’s board and management structure is subject to the disclosures contained in the latest company and IPO documents.
TruHome Finance IPO Registrar Details
The registrar is responsible for processing IPO applications, finalising the basis of allotment, crediting equity shares to successful applicants, initiating refunds, and handling investor-related services.
| Particular | Details |
|---|---|
| Registrar Name | KFin Technologies Limited |
| Website | https://www.kfintech.com |
| IPO Allotment Status | |
| Email ID | [email protected] |
| Contact Number | +91 40 6716 2222 / 1800 309 4001 |
KFin Technologies Limited has been identified as the registrar to the proposed issue in current IPO disclosures.
TruHome Finance IPO Lead Manager Details
The Book Running Lead Managers are responsible for managing the IPO process, coordinating regulatory compliance, and assisting the company throughout the public issue.
| Particular | Details |
|---|---|
| Lead Managers | JM Financial Limited, IIFL Capital Services Limited, Jefferies India Private Limited and Kotak Mahindra Capital Company Limited |
The DRHP identifies JM Financial Limited, IIFL Capital Services Limited, Jefferies India Private Limited and Kotak Mahindra Capital Company Limited as the Book Running Lead Managers.
TruHome Finance Limited Contact Details
| Particular | Details |
|---|---|
| Company Name | TruHome Finance Limited |
| Registered Office | Srinivasa Towers, 1st Floor, Door No. 5, Old No.11, 2nd Lane, Cenotaph Road, Alwarpet, Teynampet, Chennai – 600 018, Tamil Nadu, India |
| Website | https://www.truhomefinance.in |
| Email ID | [email protected] |
The company’s official website identifies TruHome Finance as a retail-focused affordable housing finance company and provides its investor and corporate information.
How to Check TruHome Finance IPO Allotment Status
Investors can check the IPO allotment status after the basis of allotment is finalised through the registrar’s website or the BSE IPO portal.
Through KFin Technologies Limited
- Visit the official KFin Technologies IPO allotment portal.
- Select TruHome Finance IPO from the IPO list.
- Choose PAN Number, Application Number, or DP/Client ID.
- Enter the required details.
- Click Submit to view the allotment status.
Through BSE
- Visit the official BSE IPO allotment page.
- Select TruHome Finance IPO from the list of IPOs.
- Enter your PAN Number or Application Number.
- Complete the verification process if required.
- Click Search to view the allotment result.
TruHome Finance IPO Conclusion
TruHome Finance IPO provides investors with an opportunity to participate in the proposed public listing of an established affordable housing finance company. The company provides housing loans, loans against property and other secured lending products, with a particular focus on self-employed and underserved customers.
The company has reported strong growth in income, profitability and assets under management. Its AUM increased from ₹8,047 crore in FY2023 to ₹17,763 crore in FY2025, while PAT increased from ₹137.75 crore to ₹286.24 crore over the same period.
The proposed IPO consists of a ₹1,500 crore fresh issue and a ₹1,500 crore Offer for Sale, resulting in a total proposed issue size of ₹3,000 crore. The fresh issue proceeds are intended to strengthen the company’s capital base and support future lending requirements.
The company operates in the affordable housing finance sector, where long-term demand is supported by housing requirements and increasing formal credit penetration. However, investors should also consider asset quality, borrowing costs, regulatory requirements, competition and leverage.
A detailed assessment of the company’s financial performance, final IPO price band, valuation, asset quality, capitalisation, lending strategy and industry outlook can help investors evaluate the IPO according to their own investment objectives.
TruHome Finance IPO FAQs
What is TruHome Finance IPO?
TruHome Finance IPO is the proposed Mainboard public issue of TruHome Finance Limited, formerly known as Shriram Housing Finance Limited. The company provides affordable housing finance and secured lending products.
What is the price band of TruHome Finance IPO?
The price band of TruHome Finance IPO has not been announced yet.
What is the issue size of TruHome Finance IPO?
The proposed total issue size is ₹3,000 crore, comprising a fresh issue of up to ₹1,500 crore and an Offer for Sale of up to ₹1,500 crore.
When will the TruHome Finance IPO open?
The TruHome Finance IPO opening date has not been announced yet.
When will the TruHome Finance IPO close?
The TruHome Finance IPO closing date has not been announced yet.
On which stock exchanges will TruHome Finance shares be listed?
The equity shares of TruHome Finance are proposed to be listed on BSE and NSE.
Who is the registrar for the TruHome Finance IPO?
KFin Technologies Limited is the registrar identified for the TruHome Finance IPO.
What is the face value of TruHome Finance IPO shares?
The face value of each TruHome Finance equity share is ₹10.
What does TruHome Finance Limited do?
TruHome Finance Limited is an affordable housing finance company providing housing loans, loans against property and other secured lending products, primarily serving self-employed and underserved customers in India.
What are the objects of the TruHome Finance IPO?
The fresh issue proceeds are proposed to be used to augment the company’s capital base to meet future capital requirements, including onward lending arising from business growth.
