WEAVER Services purchases Capital India Home Loans for Rs. 267 crore

WEAVER Services Private Limited  acquires the 10 percent of the fully diluted equity capital of Capital India Home Loan Limited for a total consideration of Rs. 267 crore.

According to the company officials, ’the key focus will be on empowering self-employed individuals in the unorganized sector in Tier 2 cities’’.

According to a press release, “WEAVER proudly announces the execution of definitive documents for strategic acquisition of 100 per cent of the fully diluted equity capital of Capital India Home Loans Limited for a total consideration of Rs. 267 crore. This acquisition is a key step in WEAVER’s mission to redefine the landscape and reach of affordable housing finance”.

For financing this acquisition and to fuel its ambitious pan-India expansion plans, WEAVER is raising the capital from leading private equity funds which includes Gaja Capital and Lok Capital for securing up to Rs. 8000 crore in funding. This capital infusion will be instrumental in launching new products and enhances its operational capabilities by positioning the company as a significant force in the affordable housing finance.

According to a Press Release, ’To finance this acquisition and fuel its ambitious pan India expansion plans, WEAVER is raising capital from leading private equity funds including Gaja Capital and Lok Capital to secure up to Rs 800 crore in funding. This capital infusion will be instrumental in launching new products and enhancing operational capabilities, positioning WEAVER as a significant force in the affordable housing finance.’’.