Housing finance firm Weaver Services Pvt Ltd (WEAVER) has announced the acquisition of 100% of the fully diluted equity capital of Capital India Home Loans Ltd for a total consideration of Rs 267 crore.
This acquisition is a key step in WEAVER’s mission to redefine the landscape and reach of affordable housing finance, the company said. The primary focus will be on empowering self-employed individuals in the unorganized sector, particularly in Tier 2 and Tier 3 towns, the company said. “WEAVER is committed to championing financial inclusion, with a special emphasis on catering to women borrowers who often face barriers in accessing traditional financial services.”
WEAVER consists of a formidable group of experienced finance professionals including Satrajit Bhattacharya, who previously led the Investments and M&A function at HDFC Limited, and other former HDFC executives. Following this acquisition, Satrajit will assume a non-executive role, continuing to guide the company’s strategic vision.
This capital infusion will be instrumental in launching new products and enhancing operational capabilities, positioning WEAVER as a significant force in the affordable housing finance sector, it added.
Through this strategic acquisition, WEAVER is poised to establish its market presence and drive meaningful change, delivering customized financial solutions that cater to the unique needs of its diverse customer base. “WEAVER is committed to fostering innovation and empowering individuals and communities across India,” according to the release.
