K Law, Luthra on Tridevi Capital’s $20 million investment in PEPL

Bar & Bench

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.

DealTridevi Capital invests in PEPL
Value$20 million
Deal TypeM&A/ PE
SectorOil and Gas (Coal Bed Methane)
Law firmsLuthra & Luthra– Tridevi Capital, K Law.- PEPL and promoters of DIL
Partners/ HeadsLuthra & 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.

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