Warburg Pincus-backed Indian mortgage lender Truhome Finance files for $325 million IPO

Warburg Pincus-backed mortgage lender Truhome Finance ​has filed for ​a 30 billion rupees ($325 million) initial public ​offering, its draft prospectus showed on Monday.

Truhome, formerly known as Shriram Housing Finance, was acquired by the U.S. ‌private equity ⁠firm ⁠from non-bank lender Shriram Finance in a 46.3 billion rupees deal in 2024.

* Truhome Finance's IPO comprises an ​issue of new shares worth 15 billion rupees, and an offer for sale of shares ​worth 15 billion rupees by ⁠Warburg.


* This ‌is the first Indian IPO ​by ​a mortgage lender since Bajaj Housing ⁠Finance's 65.6 billion rupees IPO in September 2024.

* ​Warburg currently owns 98.16% of Truhome.

* ​Should the offer size remain unchanged, Truhome's IPO would be India's third-largest issue in 2026.

* The company plans to use the IPO proceeds to meet future capital requirements, ‌according to the draft prospectus.

* Truhome's assets under management (AUM) stood at $2.29 billion ​as of ​December 2025.

* ⁠The company's AUM for the fiscal year ended March 2025 grew 29% to $1.92 billion and more than ​doubled from fiscal 2023's nearly $872 million.

* JM Financial, IIFL Capital, Jefferies and Kotak Mahindra Capital are the bankers to the issue.

($1 = 92.2930 Indian rupees)