Truhome Finance has got the Securities and Exchange Board of India’s (SEBI) approval to raise funds through initial public offering (IPO). The company’s proposed IPO comprises a fresh issue of equity shares worth Rs 1,500 crore and an offer-for-sale (OFS) aggregating to Rs 1,500 crore by promoter Mango Crest Investment.
The company intends to utilise proceeds from the fresh issue to strengthen its capital base, support future lending requirements, meet capital adequacy norms prescribed by the Reserve Bank of India and for general corporate purposes. Shares of the company are proposed to be listed on the BSE and the NSE.
Truhome Finance is a retail-focused affordable housing finance company. It offers a comprehensive suite of secured lending products including housing loans, loans against property and others.