Truhome Finance IPO
Truhome Finance IPO is a Mainboard book-built issue of ₹3,000 crore comprising a Fresh Issue of up to ₹1,500 crore and an Offer for Sale of up to ₹1,500 crore by Mango Crest Investment Ltd. The face value of the equity shares is ₹10 each. The price band,
Truhome Finance IPO Details
Truhome Finance Limited, formerly known as Shriram Housing Finance Limited, has filed its Draft Red Herring Prospectus dated March 9, 2026 for an initial public offering of equity shares. The proposed IPO 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 by promoter selling shareholder Mango Crest Investment Ltd. The total offer size is proposed to be up to ₹3,000 crore. The IPO is proposed to be listed on BSE and NSE. The price band, minimum bid lot and bidding dates were not specified in the DRHP and are to be announced at the RHP stage.
Truhome Finance IPO Timeline (Tentative)
Truhome Finance has filed its DRHP dated March 9, 2026. The proposed IPO is subject to applicable regulatory approvals and market conditions. The IPO opening date, closing date, allotment date, refund date, credit of shares and listing date have not been announced in the available DRHP.
| Event | Tentative Date |
|---|---|
| DRHP Filed | March 9, 2026 |
| IPO Opens | |
| IPO Closes | |
| Basis of Allotment | |
| Refund Initiation | |
| Credit of Shares to Demat | |
| Listing Date |
Truhome Finance IPO Lot Size
The minimum bid lot for the Truhome Finance IPO has not been announced in the DRHP. The company has stated that the price band and minimum bid lot will be decided in consultation with the Book Running Lead Managers and announced before the IPO opens.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | |||
| Retail (Max) | |||
| S-HNI (Min) | |||
| S-HNI (Max) | |||
| B-HNI (Min) |
Truhome Finance IPO Reservation
Truhome Finance IPO proposes to reserve not more than 50% of the Net Offer for QIBs, not less than 15% for NII bidders and not less than 35% for Retail Individual Bidders. The DRHP also provides for an Employee Reservation Portion, with the final number of shares and percentage to be specified at the RHP stage.
Truhome Finance IPO Subscription
Truhome Finance IPO subscription data will be available after the IPO opens for bidding.
| Category | Subscription (times) |
|---|---|
| QIB | |
| NII | |
| RII | |
| Total |
About Truhome Finance
Truhome Finance Limited, formerly known as Shriram Housing Finance Limited, is a housing finance company incorporated in 2010. The company provides financing for the construction or purchase of residential properties and loans against property. It is registered with the Reserve Bank of India as a housing finance company and also operates as a corporate agent registered with IRDAI.
The company primarily serves customers in the affordable housing segment, with a significant focus on self-employed borrowers. As of December 31, 2025, Truhome Finance had Assets Under Management of ₹21,124.33 crore and operated through 216 branches across 19 states and union territories. Its branch network increased from 131 branches in FY2023 to 178 branches in FY2025 and 216 branches as of December 31, 2025.
The company reported total income of ₹1,905.48 crore in FY2025 and profit after tax of ₹286.24 crore. For the nine months ended December 31, 2025, total income was ₹1,807.36 crore and profit after tax was ₹333.54 crore.
Strengths
- Experienced management team with significant financial services experience.
- Third-largest affordable housing finance company in India by AUM as of December 31, 2025, according to the CRISIL report cited in the DRHP.
- AUM increased from ₹8,046.60 crore in FY2023 to ₹21,124.33 crore as of December 31, 2025.
- Pan-India network of 216 branches across 19 states and union territories.
- Established underwriting capabilities focused on self-employed customers.
- Technology platform supports credit assessment, servicing, collections and operating processes.
- Diversified liability profile and demonstrated ability to access different sources of funding.
- GNPA and NNPA stood at 1.60% and 1.09%, respectively, as of December 31, 2025.
Risks to Consider
- A substantial portion of AUM consists of housing loans and loans against property.
- 76.96% of AUM as of December 31, 2025 comprised loans to self-employed customers, exposing the company to credit and collection risks.
- The business is affected by changes in interest rates.
- The company had a Debt to Equity Ratio of 3.22 times as of December 31, 2025.
- The company depends substantially on external financing to fund its lending business.
- Dependence on direct selling agents and connectors creates operational, compliance and reputational risks.
- The Indian housing finance industry is highly competitive.
- The company operates in a highly regulated environment involving RBI, NHB and SEBI requirements.
- Asset-liability mismatches could affect liquidity and profitability.
Truhome Finance Financials (₹ Cr)
Truhome Finance reported total income of ₹780.50 crore in FY2023, ₹1,425.35 crore in FY2024 and ₹1,905.48 crore in FY2025. Profit after tax increased from ₹137.75 crore in FY2023 to ₹217.44 crore in FY2024 and ₹286.24 crore in FY2025. For the nine months ended December 31, 2025, the company reported total income of ₹1,807.36 crore and PAT of ₹333.54 crore.
| Period | Revenue | PAT | Total Assets | Net Worth |
|---|---|---|---|---|
| 9M FY2026 | ₹1,807.36 Cr | ₹333.54 Cr | ₹18,106.06 Cr | ₹4,182.73 Cr |
| FY2025 | ₹1,905.48 Cr | ₹286.24 Cr | ₹15,140.41 Cr | ₹3,436.62 Cr |
| FY2024 | ₹1,425.35 Cr | ₹217.44 Cr | ₹11,820.82 Cr | ₹1,923.73 Cr |
| FY2023 | ₹780.50 Cr | ₹137.75 Cr | ₹7,733.56 Cr | ₹1,299.19 Cr |
KPIs & Valuation
Truhome Finance reported an AUM of ₹21,124.33 crore as of December 31, 2025. Its FY2025 diluted EPS was ₹7.33 and NAV per share was ₹74.61. The company reported RoNW of 8.33% for FY2025. The P/E ratio cannot be calculated until the IPO price band is announced.
Objects of the Issue
The net proceeds from the Fresh Issue are proposed to be used for augmenting the capital base of Truhome Finance to meet future capital requirements, including onward lending arising from the growth of its business and to comply with applicable regulatory capital requirements.
- The company proposed to utilise the IPO proceeds for:
- Augmenting the capital base of the company.
- Meeting future capital requirements arising from growth in the lending business.
- Supporting onward lending activities.
- Maintaining compliance with applicable RBI capital adequacy requirements.
Promoters, Lead Managers & Registrar
Truhome Finance Limited is promoted by Mango Crest Investment Ltd, which held 98.16% of the company's issued, subscribed and paid-up equity share capital on a fully diluted basis as of the DRHP date. The IPO's Book Running Lead Managers are JM Financial Limited, IIFL Capital Services Limited, Jefferies India Private Limited and Kotak Mahindra Capital Company Limited. KFin Technologies Limited is the Registrar to the Offer.
Promoters
Lead Managers (BRLM)
Registrar
| Name | KFin Technologies Limited |
|---|---|
| Phone | +91 40 6716 2222 / 1800 309 4001 |
| truhome.ipo@kfintech.com | |
| Website | www.kfintech.com |
Truhome Finance IPO Review
Truhome Finance operates in the affordable housing finance segment and has built a sizeable loan portfolio with AUM of ₹21,124.33 crore as of December 31, 2025. Its AUM increased from ₹8,046.60 crore in FY2023 to ₹17,763.97 crore in FY2025 and further to ₹21,124.33 crore by December 31, 2025. The company also expanded its branch network from 131 branches in FY2023 to 216 branches as of December 31, 2025.
Profit after tax increased from ₹137.75 crore in FY2023 to ₹286.24 crore in FY2025 and reached ₹333.54 crore during the nine months ended December 31, 2025. The company reported a 48.58% AUM CAGR between FY2023 and FY2025 and a 44.15% CAGR in profit after tax over the same period.
The IPO proceeds from the Fresh Issue are intended to strengthen the company's capital base and support future lending growth. At the same time, investors should consider the company's leverage, dependence on external funding, exposure to self-employed borrowers, interest-rate sensitivity, competitive environment and regulatory requirements. The final valuation assessment will require the price band and other final offer details that are not available in the current DRHP.
How to Apply
Truhome Finance IPO applications can be made through the ASBA process and, where applicable, UPI-supported IPO applications after the issue opens. The final IPO dates, price band and minimum bid lot are yet to be announced.
Through UPI
- Log in to your stockbroker app/website.
- Go to the IPO section.
- Select Truhome Finance IPO.
- Enter the number of lots you want to apply for.
- Select the bid price.
- Enter your valid UPI ID.
- Submit the IPO application.
- Open your UPI app when the mandate request arrives.
- Approve the mandate using your UPI PIN.
- The application amount will be blocked in your bank account. If shares are allotted, the required amount will be debited; otherwise, the blocked amount will be released.
Prospectus & Documents
Official offer documents and disclosures for the Truhome Finance IPO. Always read the RHP before investing.
Last updated Sep 28, 2026.