Centrum Group sells 75% of Centrum Housing Finance to Weaver Services
Majority ownership concentrates governance and capital responsibility with Weaver Services and its investors, establishing a single controlling authority for Centrum Housing Finance.
Change
Centrum Group sold its 75% stake in Centrum Housing Finance to Premji Invest-backed Weaver Services after Weaver completed a capital raise of Rs 950 crore as part of a Rs 1,450 crore funding round to finance the acquisition.
Why it matters
Centrum Housing Finance is no longer a Centrum Group subsidiary, creating an immediate change of control that alters which entity holds decision rights and financial responsibility. Counterparties and regulators must now treat the mortgage lender as controlled by Weaver Services rather than Centrum for compliance, reporting, and guarantee assessment purposes.
Implications
- — Corporate legal and compliance teams at banks and non-bank lenders with credit exposures to Centrum Housing Finance must review loan agreements for change-of-control or guarantee-trigger clauses and obtain waivers or consents to avoid covenant breaches.
- — Centrum Group’s finance and investor-relations teams must remove Centrum Housing Finance from consolidated financial statements and file any required regulatory disclosures immediately to avoid reporting non-compliance.
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