Centrum Capital announced on Friday that it had signed a definitive agreement to sell its entire stake in Centrum Housing Finance Ltd. (CHFL) to Weaver Services. The transaction is subject to Centrum shareholders' approval, as well as regulatory and third-party clearances. Centrum Housing Finance is valued at approximately Rs 800 crore, and Weaver Services is acquiring a 75% stake for around Rs 600 crore.
Key Highlights
- Centrum Capital signs definitive agreement to divest Centrum Housing Finance to Weaver Services; awaits board, regulatory, and shareholder approvals.
- Deal marks strategic exit by Centrum from affordable housing finance; Weaver Services acquires entire stake to expand footprint.
As of June 30, 2025, CHFL had an impressive Asset Under Management (AUM) of around Rs 1,640 crore. The company has a network of 100 offices and serves more than 18,000 customers. It provides home loans, loans for self-construction and home improvement, and loans against property.
Jaspal Bindra, Executive Chairman of Centrum Group, expressed his satisfaction with the agreement, pointing out that CHFL has demonstrated consistent profitable growth since its inception. He praised Weaver Services as a capable and ambitious platform, backed by prominent investors including Premji Invest, Lightspeed Ventures, and Gaja Capital, that he believes will significantly scale CHFL's future operations.
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Satrajit Bhattacharya, Founder of Weaver Services, commented on the acquisition and expressed gratitude to the Centrum Group for putting their trust in them. This is Weaver Services' second acquisition this month, following its earlier acquisition of Capital India Home Loans in August 2025.
E&Y and J. Sagar Associates served as CHFL's financial and legal advisors on the transaction. KPMG and Khaitan & Co. advised Weaver Services on tax and legal matters.
Satrajit Bhattacharya founded Weaver Services in April 2024, with the goal of enhancing its affordable home finance business through the use of advanced technology such as machine learning and artificial intelligence. This latest acquisition is part of the company's strategic plan to increase its market share.
