Weaver Services Acquires Majority Stake in Centrum Housing Finance
The deal has received all necessary regulatory and shareholder approvals.
Satrajit Bhattacharya, Promoter & Executive Vice Chairman, Weaver Services
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Weaver Services Pvt. Ltd. has acquired a 75.01% controlling stake in Centrum Housing Finance Ltd. (CHFL) from Centrum Capital Ltd., marking its entry into India’s affordable housing finance segment. The deal has received all necessary regulatory and shareholder approvals.
Following the transaction, Centrum Capital has exited its holding in CHFL.
Weaver Services plans to combine CHFL with its existing arm, People Home Finance, to create a larger platform targeting self-employed and low-to-middle income borrowers. The merged entity is expected to have assets under management exceeding INR 2,000 crore and operate through around 140 branches, with a focus on tier II and tier III markets.
Satrajit Bhattacharya, Promoter and Executive Vice Chairman of Weaver Services, said, “There are roughly 100 million households in India who need a home and can afford one, yet many remain outside the reach of traditional mortgage providers.” He added, “With CHFL joining People Home, we now have the foundation we envisioned, the branch network, the capital, and the team, and our focus now is on execution and expanding access to housing finance at scale.”
The acquisition follows Weaver Services’ INR 1,450 crore capital raise led by Premji Invest and Lightspeed, with participation from Gaja Capital and other investors. The funding, structured in two tranches, is aimed at supporting the company’s acquisition-led growth strategy.
Weaver has also signed agreements to acquire the remaining stake in CHFL from Morgan Stanley, subject to further approvals.
Founded in 2024, Weaver Services is focused on expanding access to housing finance using technology-driven underwriting and analytics, particularly for customers underserved by traditional lenders.
Weaver Services Pvt. Ltd. has acquired a 75.01% controlling stake in Centrum Housing Finance Ltd. (CHFL) from Centrum Capital Ltd., marking its entry into India’s affordable housing finance segment. The deal has received all necessary regulatory and shareholder approvals.
Following the transaction, Centrum Capital has exited its holding in CHFL.
Weaver Services plans to combine CHFL with its existing arm, People Home Finance, to create a larger platform targeting self-employed and low-to-middle income borrowers. The merged entity is expected to have assets under management exceeding INR 2,000 crore and operate through around 140 branches, with a focus on tier II and tier III markets.
