Weaver Services Private Limited (WEAVER) has acquired Capital India Home Loans Limited, securing 100% ownership for a total consideration of INR 267 crores. This acquisition is a key milestone in WEAVER’s strategy to expand its footprint in the affordable housing finance sector.
Following the completion of the acquisition and necessary regulatory approvals, WEAVER plans to introduce a range of innovative home loan products, particularly targeting self-employed individuals in the unorganized sector within Tier 2 and Tier 3 towns. WEAVER’s product offerings will emphasize financial inclusion, especially for women borrowers who often face challenges accessing traditional financial services.
To support its expansion, WEAVER has secured funding from prominent private equity investors, including Gaja Capital and Lok Capital, aiming to raise around INR 800 crores. This capital will facilitate the development of new products and enhance WEAVER’s operational capabilities, positioning it as a leading player in the affordable housing finance market.
Keki Mistry, former Vice Chairman and CEO of HDFC Limited, commented on the acquisition, expressing optimism about WEAVER’s mission to serve lower-income and economically weaker sections (EWS) of society. He remarked, “This initiative will be pivotal in meeting the urgent housing requirements of lower-income and EWS groups.”
Through this acquisition, WEAVER is set to deliver customized financial solutions tailored to the unique needs of a diverse customer base, reinforcing its commitment to fostering innovation and empowering communities across India.
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