NEW DELHI: Centrum Capital Ltd has announced the signing of an agreement to divest its complete stake in Centrum Housing Finance Ltd (CHFL), its affordable housing finance arm, to lender Weaver Services for Rs 430 crore.
This agreement, approved by Centrum’s board, is contingent upon shareholder, regulatory, and other commercial approvals, as stated by Centrum Capital.
As of June 30, 2025, CHFL manages assets worth Rs 1,640 crore and operates in 100 locations, serving over 18,000 customers. Their offerings include home loans, self-construction loans, home improvement loans, and loans against property.
For this transaction, E&Y acted as the financial advisor for CHFL, while J Sagar Associates served as the legal advisors. Weaver Services engaged KPMG as its tax advisor and Khaitan & Co, Bengaluru, as its legal advisors.
Reflecting on the sale, Jaspal Bindra, Executive Chairman of Centrum Group, noted, “Our housing finance business has achieved sustained profitable growth since inception. We’re pleased to partner with an ambitious and capable platform like Weaver Services, backed by prominent investors such as Premji Invest, Lightspeed Ventures, and Gaja Capital, which will significantly enhance CHFL’s operations in the future.”
