Weaver Services raises ₹1,450 crore to fund CHFL stake acquisition

Weaver Services Private Ltd. has announced the completion of a two-tranche capital raise totalling ₹1,450 crore, which will be utilised for acquisition of a 75.01% controlling stake in Centrum Housing Finance Ltd. (CHFL), the housing finance arm of Centrum Capital Ltd., following receipt of all regulatory and shareholder approvals.

Premji Invest, which had earlier backed Weaver has now increased its commitment significantly, co-led the latest ₹950 crore raise alongside Lightspeed Venture Partners. Gaja Capital and a group of senior financial services professionals are other investors.

“There are roughly 100 million households in India who need a home and can afford one. Most of them will never get a mortgage from a traditional bank. Weaver Services was built to change that,” Satrajit Bhattacharya, Promoter & Executive Vice Chairman, Weaver Services said.

Weaver and Morgan Stanley have also entered into definitive agreements for Weaver to acquire Morgan Stanley’s remaining 24.99% stake in CHFL, subject to necessary approvals, a transaction that would, once concluded, make Weaver the sole institutional owner of CHFL.

CHFL joins People Home Finance Ltd., which Weaver acquired in August 2025, to form a combined group with assets under management in excess of Rs 2,000 crore and a branch network of 140 locations across India.

The two companies will be merged in the near future into a single, unified institution. It will cater to self-employed individuals, small business owners, and first-generation homebuyers in Tier 2 and Tier 3 towns. The merged entity will offer home loans, self-construction loans, home improvement loans, and loans against property, with a specific and structural commitment to women’s financial inclusion.