Centrum Capital to sell its affordable mortgage biz to Weaver Services for Rs 430 cr

New Delhi, Aug 22 (PTI) Centrum Capital Ltd on Friday said it has signed an agreement to divest its entire stake in Centrum Housing Finance Ltd (CHFL), its affordable housing finance business, to new-age lender Weaver Services for Rs 430 crore.

The agreement which has been approved by the board of Centrum is subject to its shareholders, regulatory and other commercial third-party approvals, Centrum Capital said in a statement.

As on June 30, 2025, CHFL has an asset under management (AUM) of Rs 1,640 crore and offices across 100 locations, servicing over 18,000 customers. It offers home loans, self-construction loans, home improvement loans and loans against property.

For CHFL, E&Y was the financial advisor and J Sagar Associates were the legal advisors to the transaction, it said, adding, for Weaver Services, KPMG was the tax advisor and Khaitan & Co, Bengaluru was the legal advisors.

Commenting on the sale, Jaspal Bindra, Executive Chairman, Centrum Group, said, "Our housing finance business has seen sustained profitable growth since inception. We are happy that we have found an ambitious and highly capable platform – Weaver Services, backed by marquee investors like Premji Invest, Lightspeed Ventures and Gaja Capital, that will drive and significantly scale CHFL's operations going forward." PTI DP HVA