Truhome Finance Secures $100 Million for Affordable Housing Expansion

Truhome Finance has raised USD 100 million in its first syndicated External Commercial Borrowing, marked as a social loan. The funds, from DBS Bank and Sumitomo Mitsui Banking Corporation, will boost its affordable housing portfolio, enhancing home ownership opportunities in semi-urban areas and the company's financial practices.

Truhome Finance, previously known as Shriram Housing Finance, announced on Friday that it has successfully raised USD 100 million via its first syndicated External Commercial Borrowing. This significant development aims to fuel affordable housing projects.

The financing was secured through a social loan facility facilitated by DBS Bank and Sumitomo Mitsui Banking Corporation (SMBC), serving as the mandate lead arranger and book-runner as well as the joint social loan coordinators in this syndication, according to a company statement.

Characterized as a social loan, this initiative highlights Truhome's focus on financial inclusion and sustainable housing finance, with the funds earmarked to enhance lending to semi-urban and underserved markets, amplifying home ownership prospects. This move positions Truhome as a leader in setting new global funding benchmarks within India's domestic affordable housing finance sector.

(With inputs from agencies.)