Weaver Services has officially completed its ₹267 crore acquisition of Capital India Home Loans Limited (CIHL). The deal, which was backed by investors like Premji Invest and Gaja Capital, has received all necessary regulatory approvals, marking Weaver's formal entry into India's affordable housing finance sector.

The move, first announced in October 2024, is a significant step in Weaver's strategy to build a tech-driven platform aimed at financial inclusion. The company plans to specifically target self-employed borrowers in Tier 2 and Tier 3 towns who often struggle to get loans from traditional lenders. With the 100 per cent acquisition, Weaver enters the affordable housing finance segment.

Benefit for Underserved Communities

With the deal closed, Weaver will launch a new digital platform to serve these communities, with a particular emphasis on women borrowers, who are frequently excluded from traditional credit channels.

According to Satrajit Bhattacharya, Promoter of Weaver Services, "Closing this acquisition transforms our intent into action. We can now focus on building a fair, fast, and accessible housing finance platform for those historically excluded from the system."

Keshav Porwal, Managing Director of Capital India Finance Limited, also expressed his confidence in the handover, stating, "Weaver brings the right vision and capabilities to accelerate growth and deliver meaningful impact in the housing finance space."

Weaver’s strategy centres around using technology and hyperlocal insight to offer affordable credit solutions to the underserved, particularly informal sector workers who lack access to formal financial systems. With the acquisition of CIHL, Weaver is now primed to scale operations and reshape India’s affordable housing finance landscape.