IDFC acquires 19.4-per cent stake in Feedback Ventures

Infrastructure Development Finance Company Ltd (IDFC) has picked up a19.4-per cent stake in the Delhi-based Feedback Ventures Pvt Ltd, an infrastructure advisory, engineering and project development company. IDFC will also invest Rs10 crore in optionally convertible preference shares, which would be convertible, at the option of the company, into equity shares at the end of three years.

IDFC says this would enhance its infrastructure advisory franchise in India and the two companies propose to work together by pooling their expertise and experience across various infrastructure sectors to provide high quality advisory services for infrastructure development in the country.

The transaction is expected to be closed in the next 30 days.

Feedback, a strategic collaborative partner of the Malaysian project development consultancy, Sadec Group, in India and is the holding company for a group of companies involved in various aspects of venture management from strategic consulting and engineering services to real-estate development.

It has developed expertise across industry sectors along the venture management value-chain in automobile components, banking, insurance and financial services, food processing, drugs and pharmaceuticals, hotels and tourism, multi-use complexes, industrial estates, integrated townships, minor ports, textile and textile accessories.

Its subsidiaries include Feedback Strategic Consultancy Services Pvt Ltd, Feedback HSS Integrated Pvt Ltd, Feedback Reach Consultancy Services Pvt Ltd, Feedback Ventures (Malaysia) Sdn Bhd, Feedback Walchand Realty Pvt Ltd and PPL Feedback Packaging Pvt Ltd.