India: Asian PE manager ADV Partners invests $105m in Feedback Infra

A man walks beneath a on overhead rail track for the Lucknow Metro developed by Lucknow Metro Rail Corp. in the Hazratganj area of Lucknow, Uttar Pradesh, India, on Tuesday, February 14, 2017. Photographer: Prashanth Vishwanathan/Bloomberg

Indian infrastructure service company Feedback Infra Private Limited announced that it has raised Rs. 685 crore ($105 million) capital investment from Asian private equity manager ADV Partners.

According to a company announcement, the investment will see ADV Partners becoming a shareholder in the company, after acquiring stake from two existing shareholders L&T Infra Finance and IDFC.

“L&T Infra Finance has transferred its stake completely to ADV and IDFC has reduced its stake to comply with bank regulatory norms,” the company statement said. The only other external shareholder in Feedback Infra is HDFC.

Feedback Infra provides advisory services and also manages operations and maintenance for power projects and roads. It has 8,100 employees and associates and is present in 34 countries across Africa, the Indian sub-continent, Middle-East, and South-East Asia.

The new investment will be used to fund the company’s growth.

“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 added.

Feedback Infra has been providing consulting services for new and existing projects in the sectors of transportation, energy, and urban infrastructure for three decades.

The company currently owns three subsidiary companies: highway tolling, operations, and maintenance company Feedback Brisa Highways, power plant operation and maintenance company Feedback Power Operations & Maintenance Services and electricity distributor Feedback Energy Distribution Company.

The company had raised Rs 100 crore via non-convertible debentures in 2011, before raising Rs 150 crore term loans from its institutional shareholders in September 2015, according to a January 2017 report by ratings firm ICRA Ltd.

The Asia-focused private equity fund raised $500 million for its debut fund in 2015 and has a current portfolio of 10 investments across India, China and South East Asia.

Also Read:

AIIB approves $1.5b in loans to India for infrastructure projects

India: JSW Infrastructure-Srei to buy Sterling Port in Dahej

India: Apollo LogiSolutions in talks with ADV Partners, others to raise $46m

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.