Feedback Infra raises Rs 685 cr from ADV Partners

Feedback Infra Private Limited has raised Rs 685 crore capital investment from Asian private equity manager ADV Partners.

“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,” the statement said.

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.