Tridevi Capital Partners to invest $20 million in Deep Industries’ arm

According to reports, PE firm Tridevi Capital Partners is planning to invest $20 million in Prabha Energy Private Limited (PEPL), a subsidiary of Deep Industries Limited. The subsidiary valuation is estimated to be $50 million. The investment will be made through the subscription of compulsorily convertible debentures, which will represent a 40 per cent equity stake in PEPL on a diluted basis upon conversion into equity shares. The investment is possibly the country’s first PE investment in the coal-bed methane segment and also possibly the first project-based investment in the oil and gas sector.