PE Fund Investments
Weaver Services to raise Rs.800-Cr from Gaja Capital, Lok Capital; acquire Capital India Finance’s
Affordable home loans focused Weaver Services Pvt Ltd is raising INR 800 crore from private equity firms including Gaja Capital and Lok Capital. Part of the new funds will be used to finance the acquisition of fellow Mumbai-headquartered Capital India Home Loans Ltd (CIHL), a subsidiary of NBFC Capital India Finance Ltd (CIFL), for INR 267 crore.Weaver is founded by a group of former HDFC executives including Satrajit Bhattacharya, who previously led the Investments and M&A function at HDFC.CIHL's standalone loan portfolio stood at INR 388.68 crore as on 31 March 2024. Secured loans accounted for around 94% of the portfolio. The company had a network of 31 branches across 10 states.
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