Infrastructure services provider, Feedback Infra has raised Rs 685 crores (around $105m) from Asian PE manager ADV Partners through a mix of equity and debt investment, with a secondary acquisition of securities from existing shareholders L&T Infra Finance and IDFC, reported The Economic Times and VC Circle. The investment will also see L&T Infrastructure Finance’s full exit and transfer of its entire stake to ADV.

Khaitan & Co acted as the Indian legal advisors to Feedback Infra and its promoters, led by partners Kartick Maheshwari and Manisha Shroff, principal associate Madhuparna Dasgupta, senior associates Shantanu Gupta, Kapish Mandhyan and Rolwine Alva along with associates Srikanth Mantravadi and Juhi Bhat.

Cyril Amarchand Mangaldas acted as legal advisors to ADV Partners in the transaction.

Feedback Infra provides advisory services and also manages operations and maintenance for power projects and roads, and the current investment is expected to reduce Feedback’s current debt and provide for capital for the next phase of its growth.

2018-03-20

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