December 11, 2007

Feedback Ventures, today, has raised around Rs. 40 crore from L&T, in a significant restructuring of its equity base.  This gives L&T a 26 percent share in this privately held, fast-growing infrastructure services company.  L&T will be appointing two of its nominees to the Board of Feedback Ventures.

Simultaneously, the promoter group, comprising Vinayak Chatterjee (Chairman), RS Ramasubramaniam (Vice Chairman), and their associates, has raised its own shareholding to 46 percent by buying out two exiting shareholders.  Feedback Ventures continues to have strong business relationships with them.

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