New Delhi, July 22 -- Premji Invest and Gaja Capital-backed housing finance company Weaver Services has received investor commitments of Rs.1,500 crore and will start operations before the end of this month, founder Satrajit Bhattacharya said.

Weaver Services, which acquired Capital India Home Loans Ltd for Rs.267 crore in October, is scouting for two more mortgage lenders, said Bhattacharya, who was earlier head of mergers and acquisitions at erstwhile HDFC Ltd. He declined to name the companies but said some of them were subsidiaries of listed companies.

"I have signed my shareholders' agreement with Gaja Capital and Premji Invest. So, Premji Invest is the lead investor and Gaja is slightly smaller," Bhattacharya said in an interview,...