Warburg Pincus-backed TruHome Finance files draft papers for Rs 3,000-crore IPO

The company may consider raising funds up to Rs 300 crore, i.e. 10 percent of total offer size, in pre-IPO round, which is a part of fresh issue component.

• Warburg Pincus-backed TruHome Finance files draft papers for Rs 3,000-crore IPO
• IPO mix: Fresh issue of Rs 1,500 crore, offer for sale Rs 1,500 crore
• Mango Crest Investment holds 98.16% stake in TruFinance

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Warburg Pincus-backed retail-focused affordable housing finance company TruHome Finance has filed Draft Red Herring Prospectus with SEBI on March 9 to raise Rs 3,000 crore via initial share sale.

The company proposed to issue fresh shares worth Rs 1,500 crore, while promoter Mango Crest Investment intends to sell Rs 1,500 crore worth shares via offer-for-sale.

US-based private equity firm Warburg Pincus-owned Mango Crest Investment holds 98.16 percent stake in TruHome Finance.

The company may consider raising funds up to Rs 300 crore, i.e. 10 percent of total offer size, in pre-IPO round, which is a part of fresh issue component.

Moneycontrol was the first to report in December 2025 that Shriram Housing Finance, which now rebranded as TruHome Finance, is said to have kick-started the process of taking the company public.

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Founded in 2010, TruHome Finance with assets under management (AUM) of Rs 21,124.3 crore as of December 2025 offers secured lending products including housing loans, and loans against property with an average ticket size of Rs 21.3 lakh, targeting self-employed customers.

The company that claims third largest affordable housing finance company in India by AUM with a pan-India distribution and sourcing network spanning 19 states and union territories through 216 branches proposed to utilise fresh issue proceeds for augmenting its capital base to meet future capital requirements including onward lending, arising out of the growth of the business.

TruHome Finance was previously a wholly owned subsidiary of Shriram Finance with the name of Shriram Housing Finance, and later acquired by Mango Crest in December 2024. Mulberry Inlet Investment, which is owned by certain private equity funds and vehicles managed by affiliates of Warburg Pincus, is the sole shareholder of Mango Crest.

The financial performance announced in the recent periods has been healthy so far. Profit in the fiscal 2025 increased by 31.6 percent to Rs 286.2 crore from Rs 217.4 crore in previous year. Net interest income in the same period surged 47.5 percent to Rs 5,794 crore from Rs 3,928.5 crore.

Profit in nine months period ended December 2025 stood at Rs 333.5 crore with net interest income at Rs 580 crore.

JM Financial, IIFL Capital Services, Jefferies India, and Kotak Mahindra Capital Company are appointed as the book running lead managers for the TruHome Finance IPO.