The minimum deviation \( \delta \) produced by a prism is given by:
\[
\sin \left( \frac{\delta_{\text{min}}}{2} \right) = \frac{\mu_{\text{prism}} - 1}{2} \sin \left( \frac{A}{2} \right),
\]
where \( \mu_{\text{prism}} \) is the refractive index of the material of the prism and \( A \) is the angle of the prism.
When the prism is immersed in air, the refractive index is \( \mu_{\text{glass}} = \frac{3}{2} \), and in water, the refractive index of the glass relative to water becomes:
\[
\mu_{\text{glass-water}} = \frac{\mu_{\text{glass}}}{\mu_{\text{water}}} = \frac{\frac{3}{2}}{\frac{4}{3}} = \frac{9}{8}.
\]
Now, considering the angle of the prism and its effect on minimum deviation, we can show that the minimum deviation when immersed in water becomes one-fourth that in air:
\[
\delta_{\text{min-water}} = \frac{\delta_{\text{min-air}}}{4}.
\]