Housing finance company Weaver Services Pvt Ltd has acquired a majority stake in Centrum Housing Finance Ltd (CHFL).
Weaver on Wednesday said it has completed raising ₹1,450 crore from Premji Invest, Lightspeed Venture Partners, Gaja Capital and over 70 individuals.
The lender, founded by former HDFC Ltd executive Satrajit Bhattacharya, used the funds to acquire a 75.01% stake in CHFL, the mortgage lending arm of Centrum Capital.
In a separate statement, Centrum Capital said the company completed the sale of its entire stake in Centrum Housing on Wednesday. CHFL will cease to be its subsidiary.
Weaver has also entered into a definitive agreement with Morgan Stanley to acquire its remaining 24.99% stake in Centrum Housing.
“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,” said Bhattacharya, Weaver’s promoter and executive vice-chairman.
Saravanan Nattanmai, partner, Premji Invest, 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–erstwhile Capital India Home Loans–in August 2025, to form a combined group with assets under management exceeding ₹2,000 crore and a branch network of 140 locations.
“The two companies will be merged in the near future into a single, unified institution…” it said in a statement. “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.”
In July, Mint had reported that Weaver received commitments totalling ₹1,500 crore from potential investors, including a large global technology-focused fund. Bhattacharya had said that Weaver will charge an interest rate of 12-13% and will not look at the outskirts of metro cities like Mumbai to grow their book. Instead, the lender will look at tier II to IV locations, like Baramati in Maharashtra, where other lenders have a limited footprint, he said.
Anuvrat Jain, partner, growth investments at Lightspeed, said India’s housing finance market remains deeply underpenetrated, creating a large, long-duration opportunity at the intersection of technology and financial inclusion.
