Tech Titans and Investors Boost Akasa Air with Strategic Stakes

Premji Invest, Manipal Group's Ranjan Pai, and 360 ONE Asset have received approval to acquire stakes in Akasa Air's parent company, SNV Aviation. The investment aims to support the airline's growth. The Jhunjhunwala family, holding a significant stake, has committed further funding. CCI ensures fair competition.

In a strategic move approved by the Fair Trade Regulator, tech mogul Premji Invest, along with Manipal Group's Ranjan Pai and 360 ONE Asset, are set to acquire stakes in Akasa Air's parent company, SNV Aviation. This collaboration aims to propel the airline's ambitious growth trajectory.

SNV Aviation, the entity behind Akasa Air, operates in the air passenger and cargo transport sector. The Competition Commission of India (CCI) confirmed the acquisition of stakes by PI Opportunities Fund-I Scheme-II, Claypond Capital Partners, and 360 ONE Private Equity Fund, reflecting a consolidated investment approach.

Notably, the Jhunjhunwala family, major stakeholders, have pledged additional resources to further support Akasa's expansion. This level of investment activity stays under the vigilance of CCI to ensure adherence to fair market practices.

(With inputs from agencies.)