Big Names, Bigger Dreams: Akasa Air Attracts Heavyweight Investors

Azim Premji's Premji Invest, family office of Ranjan Pai named Claypond Capital, and 360 ONE Asset have sought clearance from the Competition Commission of India (CCI) to buy equity in Akasa Air's holding company, SNV Aviation. The development follows Akasa Air's February 6 announcement to have raised investment from these star investors. The airline plans to utilize the new capital to drive its aggressive growth strategy, including expansion overseas and improving customer experience. Although the size of the investment was not revealed, sources indicate it may be in the range of $130-140 million. The Jhunjhunwala family, who are the largest shareholders at present, have also pledged further funding to aid the airline's vision.

 

Source: Business Standard