Feedback Infra raises ₹685 crore
Feedback Infra Private Limited has raised ₹685 crore capital investment from Asian private equity manager ADV.
“As part of the transaction, L&T has transferred its stake completely to ADV and IDFC has reduced its stake in compliance with banking regulatory norms…The last event of equity capital investment in Feedback Infra was in 2006 when L&T had acquired a stake,” the company said in a statement.
“The primary objective of the recently concluded financial transaction is to reduce current debt and provide for capital for the next phase of growth,” it said.
The Feedback Infra Group has entered operations and maintenance business for Roads, Highways and thermal power plants. Electricity distribution is also a segment they have initiated operations in. “Feedback Infra has been providing advisory, engineering and construction management services in the three verticals of transportation, energy and urban infra for close to three decades. Five years ago, operations and maintenance services were added to its portfolio,” the statement added.
HDFC Ltd., IDFC Bank Ltd. and L&T Infrastructure Finance Co. Ltd. have been the external shareholders of Feedback Infra.