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Housing finance lender Truhome Finance and real estate developer Veegaland Developers have received approval from the Securities and Exchange Board of India (SEBI) to proceed with their proposed initial public offerings. Truhome Finance, backed by Warburg Pincus, plans to raise INR 3,000 crore through a combination of fresh equity issuance and an offer-for-sale, while Veegaland Developers intends to raise INR 250 crore through a fresh issue of shares. The approvals form part of a broader batch of five IPO clearances granted by the market regulator in the past week. For Truhome Finance, the listing is expected to strengthen its capital base and support future lending growth, while Veegaland’s public issue is set to provide growth capital for its real estate business. SEBI’s observations allow both companies to move ahead with their public offerings within the prescribed regulatory timeline.
Housing finance company Truhome Finance and real estate developer Veegaland Developers have secured approval from the Securities and Exchange Board of India (SEBI) for their proposed initial public offerings, marking a significant step towards their entry into the public markets. The approvals were granted in the past week after the regulator issued its observations on the draft offer documents submitted by the two companies.
SEBI’s observations are a mandatory regulatory requirement that enable companies to proceed with their IPO plans. According to updates issued by the capital markets regulator, the approvals were granted between June 1 and June 5 alongside clearances for three other companies, including OYO parent entity Prism, Advanta Enterprises and Mehta Hitech Industries.
For Truhome Finance, formerly known as Shriram Housing Finance, the proposed IPO comprises a fresh issue of equity shares worth INR 1,500 crore and an offer-for-sale of shares worth INR 1,500 crore by promoter Mango Crest Investment, taking the total issue size to INR 3,000 crore. The company is focused on affordable housing finance and provides home loans, loans against property and construction finance to retail customers across India.
The lender, backed by Warburg Pincus, has expanded its branch network significantly in recent years and has been strengthening its presence in smaller cities. The proposed capital raise is expected to support future business growth, augment the company’s capital base and help meet regulatory capital adequacy requirements linked to the expansion of its lending operations.
Veegaland Developers, part of the V-Guard Group, has received approval for an IPO comprising an entirely fresh issue of equity shares worth INR 250 crore. Unlike Truhome Finance’s offering, the proposed issue does not include any offer-for-sale component, indicating that the proceeds will be directed towards the company’s growth and operational requirements.
The real estate developer had filed its draft IPO papers with SEBI at the end of 2025. Following the receipt of the regulator’s observations, the company can now move ahead with the next stages of the public issue process, including filing the red herring prospectus and finalising the launch schedule.
Under SEBI regulations, companies generally have up to one year from the date of receiving the observation letter to launch their IPOs. The approvals reflect continued activity in India’s primary market, where companies across sectors including real estate, housing finance, hospitality and manufacturing are seeking public capital to fund expansion and strengthen their balance sheets.
Source - PTI
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