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FEEDBACK INFRA GROUP SUCCESSFULLY CLOSES Rs. 685cr INVESTMENT BY ASIA-FOCUSED PE FUND, ADV PARTNERS

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The last event of equity capital investment in Feedback Infra was in the year 2006 when L&T acquired a stake. Since then, the Group has grown and expanded its operations manifold. Apart from its foray into international markets, the Group entered the Operations and Maintenance space for Roads & Highways as well as Thermal Power Plants, and ventured into the vast area of electricity distribution, for which there is a burgeoning need in the country.

This phase of rapid growth was entirely funded through internal accruals, support from existing institutional shareholders and funding from banks. The primary objective of the recently concluded financial transaction is to reduce current debt and provide for capital for the next phase of growth.

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.

Speaking on the occasion, Suresh Prabhala, Partner & Co-Founder of ADV said: “We are delighted to enter into the asset- light, high- return services sector as a partner with Feedback Infra. We are excited about Feedback’s market leading position in the infrastructure services space and look forward to working together with Feedback’s experienced management team and marquee institutional shareholders to accelerate growth and create long term shareholder value.”

Vinayak Chatterjee, Chairman and Co-Founder of Feedback Infra said: “The partnership with ADV has come at the right time and is structured in a manner that will enable us to leapfrog to the next orbit of growth. The market is not a constraint for us – domestic or international, and now we have the liquidity to further fuel our market leadership in our chosen sectors.”

 

R. S. Ramasubramaniam, Co-Chairman and Co-Founder of Feedback Infra added: “Our capital structure has improved after this transaction and positions us well for future growth. We value ADV’s partnership and look forward to co-creating a better future.”

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