Weaver Services Acquires Capital India Home Loans for Rs 267 Cr
This acquisition aims to transform affordable housing finance in India
Weaver Services has executed definitive documents to acquire 100 per cent of the equity capital of Capital India Home Loans for Rs 267 crore. This acquisition is a strategic move aimed at transforming the affordable housing finance landscape in India.
With regulatory approvals pending, Weaver plans to introduce innovative home loan products targeting self-employed individuals in tier 2 and tier 3 towns, with a focus on financial inclusion for women borrowers.
Led by seasoned finance professionals, including former HDFC executive Satrajit Bhattacharya, Weaver aims to raise to Rs 800 crores from private equity funds like Gaja Capital and Lok Capital to support this initiative.
Keki Mistry, former vice chairman and chief executive officer of HDFC expressed support for the venture, highlighting its potential to address housing needs for lower-income groups.
This acquisition positions Weaver to make a significant impact in the affordable housing finance sector, offering tailored financial solutions for diverse customer needs across India.
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