New Delhi, Oct. 10 -- Gaja Capital-backed Weaver Services has rebranded its wholly-owned housing finance arm, Capital India Home Loans, as People Home Finance, as it focuses on affordable housing lending segment across smaller Indian cities.

The move follows a $170 million capital infusion into Weaver, led by Lightspeed, Premji Invest, and Gaja Capital, which will be deployed to strengthen its presence in tier-II and tier-III cities.

In an interaction with Mint, founder Satrajit Bhattacharya and chief executive Anil Kothuri said the company is aiming to build a Rs.12,000-crore home loan portfolio over the next five years. It expects to start with an assets under management (AUM) base of Rs.2,000 crore, following the acquisition of Centr...