Akasa Air Gets a Capital Lift: Premji, Pai, and 360 ONE Board the Investment Flight

India’s Competition Commission (CCI) has granted approval for marquee investors—Premji Invest, Ranjan Pai’s family office (Claypond Capital Partners), and 360 ONE Asset—to acquire stakes in Akasa Air’s parent company, SNV Aviation. This move is set to inject significant capital into the fast-growing airline, supporting its expansion plans and reshaping its shareholding structure.

 

Key Points

The CCI has approved the acquisition of a considerable stake in Akasa Air by SEBI-registered alternative investment funds PI Opportunities Fund-I Scheme-II (PIOF, managed by Premji Invest), Claypond Capital Partners (Ranjan Pai family office), and 360 ONE Private Equity Fund.

 

The three investment groups are all SEBI-registered alternative investment funds, of which 360 ONE Asset holds the 360 Fund.

 

The capital investment will be used to drive Akasa Air's aggressive growth and expansion in the Indian aviation market.

 

The Jhunjhunwala family, which has a 45.97% holding in Akasa Air, has also placed additional funds under this round of capital investment.

 

Akasa Air CEO Vinay Dube and his brothers, along with other prominent shareholders such as Madhav Bhatkuly and PAR Capital Ventures, will have their shareholding diluted as new investors join.

 

The transaction needed CCI clearance as it breached the regulatory threshold for big deals, thereby providing for healthy competition in the market.

 

The overall investment from the consortium stands at around $130-140 million, as per previous reports.

 

Akasa Air is an asset-light operator that is making use of sale and leaseback structures for its fleet, and the new money is expected to further enhance its operational capacity.

 

Relevant Sources: Economic Times, Millennium Post, Business Standard, The Week, Times of India, LatestLY