PE-backed Invenire Energy acquires UK's Hardy Oil and Gas for $22 million

Invenire had recently bought a subsidiary of Jubilant Energy via insolvency process

Now, private equity firms are expanding their reach in India’s oil and gas sector, too. PE-backed Invenire Energy has acquired UK-based Hardy Oil and Gas, which holds participating interest in three hydrocarbon assets in India, for $22 million. 

This comes close on the heels of Invenire buying JEKPL (former Jubilant Energy Kharsang), a subsidiary of Hari Bhartia-promoted Jubilant Energy, through the insolvency process for around Rs 123 crore. 

Chennai-based Invenire had acquired 100 per cent in Tata Sons’ oil and gas arm Tata Petrodyne through a $100-million deal last year. 

Miami-based, India-focused fund Atyant Capital holds a majority stake in Invenire,