Mortgage lender Weaver buys majority stake in Centrum Housing

Housing finance company Weaver Services Pvt Ltd has acquired majority stake in Centrum Housing Finance Ltd (CHFL).

Weaver said Wednesday he completed the upgrade ₹1,450 crore from Premji Invest, Lightspeed Venture Partners, Gaja Capital and over 70 others.

The lender, founded by former HDFC Ltd executive Satrajit Bhattacharya, will use the funds to acquire a 75.01% stake in CHFL, the mortgage lending arm of Centrum Capital.

The company completed the sale of its entire stake in Centrum Housing on Wednesday, Centrum Capital said in a separate statement. CHFL will cease to be its subsidiary.

Weaver also signed a definitive agreement with Morgan Stanley to acquire the remaining 24.99% stake in Centrum Housing.

“There are approximately 100 million households in India that need and can afford a home. Many of them will never be able to get a mortgage from a traditional bank. Weaver Services was built to change this,” said Bhattacharya, promoter and vice president of Weaver.

Premji Invest partner Saravanan Nattanmai said: Weaver is “building something that will matter for a long time.”

Centrum Housing is Weaver’s second acquisition, following its takeover of People Home Finance (formerly Capital India Home Loans) in August 2025, with the aim of creating a combined group with over 2014 assets under management. ₹2,000 crore and branch network of 140 locations.

“The two companies will merge into a single, combined entity in the near future…” the statement said. “The combined entity will offer home loans, construction loans, home renovation loans and loans against property, with a specific and structured commitment to women’s financial inclusion.”

In July, Mint had reported this Weaver received total commitments ₹1,500 crore from potential investors, including a large global technology-focused fund. Bhattacharya had said Weaver would charge an interest rate of 12-13 per cent and would not look to the slums of metro cities like Mumbai to expand its accounts. Instead, the lender is in the II region, where other lenders have a limited footprint, such as Baramati in Maharashtra. and IV. He said he would look at level positions.

Anuvrat Jain, partner in charge of growth investing at Lightspeed, said India’s housing finance market is underpenetrated and creates a huge, long-term opportunity at the intersection of technology and financial inclusion.