Weaver Services Pvt Ltd has successfully acquired a majority stake in Centrum Housing Finance Ltd (CHFL), marking a significant move in the housing finance sector.
On Wednesday, Weaver announced that it raised ₹1,450 crore from investors including Premji Invest, Lightspeed Venture Partners, Gaja Capital, and over 70 individual contributors. These funds were utilized to secure a 75.01% stake in CHFL, which is the mortgage lending arm of Centrum Capital.
In a related development, Centrum Capital confirmed that it has completed the sale of its entire stake in Centrum Housing, resulting in CHFL no longer being a subsidiary of Centrum.
Weaver has also entered into a definitive agreement with Morgan Stanley to acquire the remaining 24.99% stake in Centrum Housing.
Market Potential: Satrajit Bhattacharya, the founder of Weaver and former executive at HDFC Ltd, highlighted the vast potential in the Indian housing market, noting there are approximately 100 million households that require affordable housing but may not qualify for traditional bank mortgages.
Saravanan Nattanmai from Premji Invest emphasized that Weaver is on a path to create a long-lasting impact in the sector.
This acquisition marks Weaver's second major move, following its takeover of People Home Finance (formerly Capital India Home Loans) in August 2025. The combined assets under management for the two entities will exceed ₹2,000 crore, supported by a branch network of 140 locations.
Weaver plans to merge the two companies into a single institution in the near future, which will offer a range of products including home loans, self-construction loans, home improvement loans, and loans against property, with a strong focus on women's financial inclusion.
Strategic Focus: Bhattacharya has indicated that Weaver will target tier II to IV locations, such as Baramati in Maharashtra, rather than metropolitan fringes, aiming to fill the gap left by traditional lenders.
Anuvrat Jain from Lightspeed noted that the Indian housing finance market remains significantly underpenetrated, presenting a substantial opportunity for growth that aligns with technology and financial inclusion initiatives.
