NEW DELHI: Real estate major DLF, which is reviving plans to raise about Rs 10,500 crore from an IPO, has acquired a 19 per cent stake in infrastructure development advisory firm Feedback Ventures for about Rs 16.15 crore.
"We have bought a 19 per cent stake in Feedback Ventures for Rs 16.15 crore. The deal values the company at about Rs 85 crore," a DLF official said.
Agreements with various existing shareholders have been signed and the transaction has been completed. DLF has nominated two members on Feedback's board of directors, who would be inducted in the next meeting, he said.
"We purchased this stake as Feedback has good technical consulting manpower for advisory services in infrastructure projects and special economic zones," the official said. The acquisition would help DLF in its various projects in the infrastructure sect or, besides SEZs and townships.
DLF has already received final approval for five SEZs and in-principal approval for another eight SEZs. Of these, three are proposed to be multi-product zones, involving an investment of about Rs 30,000 crore.
Feedback Ventures, promoted by Mr Vinayak Chatterjee, provides advisory services for projects from conceptualisation to commissioning in sectors such as highways, aviation, ports, SEZs, IT Parks, townships, retail and hospitality.
Besides DLF, IDFC has a 21.8 per cent stake in the company. Promoters own 31.3 per cent stake, Thapar group 13.3 per cent and HDFC 12 per cent, sources at Feedback Ventures said.
Feedback Ventures has about 480 professionals, of which 285 are engineers, and the company plans to increase the headcount to 600 by end of the current fiscal.
"We have bought a 19 per cent stake in Feedback Ventures for Rs 16.15 crore. The deal values the company at about Rs 85 crore," a DLF official said.
Agreements with various existing shareholders have been signed and the transaction has been completed. DLF has nominated two members on Feedback's board of directors, who would be inducted in the next meeting, he said.
"We purchased this stake as Feedback has good technical consulting manpower for advisory services in infrastructure projects and special economic zones," the official said. The acquisition would help DLF in its various projects in the infrastructure sect or, besides SEZs and townships.
DLF has already received final approval for five SEZs and in-principal approval for another eight SEZs. Of these, three are proposed to be multi-product zones, involving an investment of about Rs 30,000 crore.
Feedback Ventures, promoted by Mr Vinayak Chatterjee, provides advisory services for projects from conceptualisation to commissioning in sectors such as highways, aviation, ports, SEZs, IT Parks, townships, retail and hospitality.
Besides DLF, IDFC has a 21.8 per cent stake in the company. Promoters own 31.3 per cent stake, Thapar group 13.3 per cent and HDFC 12 per cent, sources at Feedback Ventures said.
Feedback Ventures has about 480 professionals, of which 285 are engineers, and the company plans to increase the headcount to 600 by end of the current fiscal.