Centrum Capital on Friday said it has signed a definitive agreement to sell its entire stake in Centrum Housing Finance Ltd. (CHFL) to Weaver Services. The deal is contingent upon obtaining approval from Centrum's shareholders, as well as regulatory and other third-party clearances. Centrum Housing Finance’s valuation is approximately Rs 800 crore and Weaver Services is acquiring a 75 per cent stake, with the acquisition cost around Rs 600 crore.
As of June 30, 2025, CHFL manages an impressive Asset Under Management (AUM) of approximately Rs 1,640 crore. The company operates through a network of 100 offices and serves over 18,000 customers. Its product offerings include home loans, loans for self-construction and home improvement, and loans against property.
Jaspal Bindra, the Executive Chairman of Centrum Group, expressed his satisfaction with the agreement, noting that CHFL has shown consistent profitable growth since its inception. He praised Weaver Services as a capable and ambitious platform, supported by prominent investors like Premji Invest, Lightspeed Ventures, and Gaja Capital, which he believes will significantly scale CHFL's future operations.
Satrajit Bhattacharya, Founder of Weaver Services, commented on the acquisition, stating his gratitude for the trust placed in them by the Centrum Group. This marks the second acquisition for Weaver Services this month, following its earlier acquisition of Capital India Home Loans in August 2025.
For the transaction, E&Y and J. Sagar Associates served as financial and legal advisors, respectively, for CHFL. KPMG and Khaitan & Co. provided tax and legal counsel to Weaver Services.
Weaver Services, founded in April 2024 by Satrajit Bhattacharya, focuses on leveraging advanced technology, including machine learning and artificial intelligence, to enhance its affordable home finance business. This latest acquisition is part of its strategic plan to expand its presence in the market.