Deep Industries announces PE investment of USD 20 mn in subsidiary -Prabha Energy

By Tridevi Capital Partners

Deep Industries has signed definitive documents on 19 December 2016 for the proposed primary capital investment by Tridevi Capital Partners (Tridevi) in its subsidiary, Prabha Energy. The investment shall be made through subscription of compulsorily convertible debentures, which shall represent 40% equity stake in Prabha Energy on fully diluted basis upon conversion of equity shares, for a cash consideration of USD 20 million at a total valuation of Prabha Energy at USD 50 million.

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