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Weaver Services has completed the INR 267 crore acquisition of Capital India Home Loans Limited, marking its formal entry into the affordable housing finance market. Funded by notable investors including Premji Invest and Gaja Capital, this move supports Weaver's plan to build a tech-driven finance platform focused on self-employed people in smaller towns. The company is prioritizing financial inclusion for women borrowers, who face challenges accessing credit. With this acquisition, Weaver is poised to scale rapidly and contribute significantly to addressing credit gaps in underserved communities.
Weaver Services recently completed the full acquisition of Capital India Home Loans Limited (CIHL) for INR 267 crore after receiving all the necessary regulatory approvals. This acquisition marks Weaver's official entry into the affordable housing finance segment. The funding for the transaction came through equity raised from Premji Invest, Gaja Capital, and a group of individual investors. Advertisement
Weaver had announced its plan to acquire CIHL in October last year, setting a clear strategic direction to enter India's affordable housing finance market. With the deal now closed, Weaver is moving ahead to launch a technology-driven affordable housing finance platform. This platform will focus primarily on self-employed individuals working in the unorganised sector, especially in tier 2 and tier 3 towns.
The company has stated that it will give special attention to financial inclusion for women borrowers. Women in these sectors often face systemic challenges when trying to access credit from traditional lenders, and Weaver aims to address this issue. Combining technology with strong local market knowledge, Weaver intends to scale up quickly and reshape the affordable housing finance landscape in India.
By targeting communities that have traditionally been under-represented, Weaver aims to make a meaningful impact on financial access and housing affordability. The acquisition and forthcoming platform highlight the company's commitment to expanding affordable housing finance and supporting financial inclusion.
Source PTI
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