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Thursday, May 02, 2002

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Srei takes 8.7% stake in Feedback

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SREI International Finance Ltd (Srei) has taken a stake of 8.70 per cent in Feedback Ventures Private Ltd (FVPL), through its wholly-owned subsidiary, Srei Capital Markets Ltd.

The New Delhi-based FVPL is an integrated infrastructure development group, with special focus on project development, financial advisory services, engineering and project management of core, urban and social infrastructure projects.

The current shareholding structure of FVPL, after Srei Capital's acquisition of 8.70 per cent is as follows: Mission Holdings Pvt Ltd (promoter group) 29.64 per cent, Kontur Bintang Sdn bhd - 17.20 per cent, Tan Sri G. Gnanalingam - 8.70 per centt, Stock Traders Pvt Ltd - 11.12 per cent, HDFC - 8.51 per cent, BILT Trading & Infrastructure Ltd - 13.04 per cent and other shareholders - 3.20 per cent.

According to Mr Vinayak Chatterjee, Chairman, FVPL, the new relationship would result in "leveraging Srei's expertise in structuring innovative financing instruments and Feedback's expertise in project development and management for creating innovative infrastructure projects in the country''.

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