Centrum Capital to Sell Stake in Affordable Housing Arm to Weaver Services
Centrum Capital Ltd has agreed to sell its entire stake in Centrum Housing Finance Ltd to Weaver Services for Rs 430 crore. The sale is subject to various approvals. With over Rs 1,640 crore AUM and a broad customer base, CHFL will be significantly upscaled under Weaver's new leadership.
- Country:
- India
Centrum Capital Ltd announced on Friday that it will divest its entire stake in Centrum Housing Finance Ltd (CHFL), an affordable housing finance business, to Weaver Services, a new-age lender, for Rs 430 crore.
The move, approved by Centrum's board, awaits shareholders, regulatory, and third-party approvals, the company stated.
On June 30, 2025, CHFL managed assets worth Rs 1,640 crore across 100 offices, serving over 18,000 customers with various loan offerings. The transaction involved E&Y as financial advisors and J Sagar Associates as legal advisors for CHFL, while KPMG and Khaitan & Co advised Weaver Services.
Jaspal Bindra, Executive Chairman of Centrum Group, expressed satisfaction with the agreement, highlighting Weaver Services' strong investment backing and capabilities in expanding CHFL's future operations.
(With inputs from agencies.)
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