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Tridevi Capital, a multi-asset class offshore private equity partnership, has invested $20 million in Prabha Energy Private Limited (PEPL), which is a subsidiary of Deep Industries Limited.
|Deal||Tridevi Capital invests in PEPL|
|Deal Type||M&A/ PE|
|Sector||Oil and Gas (Coal Bed Methane)|
|Law firms||Luthra & Luthra– Tridevi Capital, K Law.- PEPL and promoters of DIL|
|Partners/ Heads||Luthra & Luthra- Kanchan Sinha, Anshul Jain, Lokesh Shah, J.P. Singh, G.R. Bhatia |
K Law – Milind Jha
Krishnamurthy & Co. acted for PEPL through a team lead by Partner Milind Jha and Associate Pulkit Rahandale.
Luthra & Luthra Law Offices acted for Tridev Capital through a team headed by Partner Kanchan Sinha, with the due diligences team led by Partners – Anshul Jain, Lokesh Shah (for Direct Tax) and J.P. Singh (for Indirect Tax). Partner G.R. Bhatia advised on the Competition Law related aspects of the transaction.
The deal is of enormous significance as it is possibly the first private equity investment in the CBM Sector in India and possibly the first project-based investment in the broad Oil and Gas Sector in India.