Feedback Venture raises Rs 40 cr from L

New Delhi, Dec 11 (UNI) Feedback Ventures, a consulting and engineering company, today said in a significant restructuring of its equity base, it has raised about Rs 40 crore from L&T which has upped its stake in the company to 26 per cent.

L&T will be appointing two of its nominees to the Board of Feedback Ventures, said a statement.

Simultaneously, the promoter group, comprising Vinayak Chatterjee (Chairman), RS Ramasubramaniam (Vice Chairman), and their associates, has raised its own shareholding to 46 per cent by buying out two exiting shareholders.

With this restructuring, the shareholding pattern of Feedback Ventures is 46 per cent with the promoters, 12 per cent with HDFC, 16 percent with IDFC and 26 per cent with L&T.

''Feedback Ventures management hopes to significantly enhance its presence in most infrastructure sectors by working alongside L&T, both domestically and internationally,'' said the statement.

Feedback Ventures, currently, employs over 800 professionals and provides integrated 'advisory-engineering-project management' services across the infrastructure value-chain.

UNI