New Delhi, Aug 12 (PTI) Weaver Services on Tuesday said it has completed the acquisition of Capital India Home Loans Limited (CIHL) for Rs 267 crore after securing all necessary regulatory approvals.
With
the 100 per cent acquisition, Weaver enters the affordable housing finance segment.
The Rs 267 crore transaction was funded through equity raised from Premji Invest, Gaja Capital, and a group of individual investors.
This follows Weaver’s October 2024 announcement of its intent to acquire CIHL, signalling the company’s strategic roadmap to enter India’s affordable housing finance market, according to a joint statement.
With the deal now closed, Weaver is moving quickly to launch a tech-led affordable housing finance platform targeting self-employed individuals in the unorganised sector, particularly in tier 2 and tier 3 towns, it added.
The company will place special emphasis on financial inclusion for women borrowers, who often face systemic challenges in accessing credit from traditional lenders, it said.
With this acquisition complete, Weaver Services is set to scale rapidly and reshape India’s affordable housing finance sector, it added.
Combining technology with deep local market insight, the company aims to deliver lasting impact for communities that have historically been under-represented, it added. PTI DP DP BAL BAL
