Azim Premji's and Ranjan Pai's family offices discuss $125M investment in Akasa Air, India's new airline, for minority stake and expansion funding.

Premji Invest and Claypond Capital, family offices of Wipro's Azim Premji and Manipal Group's Ranjan Pai, are in talks to invest around $125M in Akasa Air, India's new airline, seeking a significant minority stake. The funds will support Akasa Air's expansion and aircraft pre-delivery payments. The investment would value the airline at over $350M, potentially diluting shareholdings of the Jhunjhunwala family and CEO Vinay Dube, but they will remain the largest shareholders.

August 22, 2024
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