Green Light for Major Investments in Akasa Air

The Competition Commission of India (CCI) has approved investments from Premji Invest, Manipal Group Chief Ranjan Pai's family office, and 360 ONE Asset into SNV Aviation, the parent company of Akasa Air. The move supports the airline's growth plans, despite existing shareholder stakes being diluted.

The Competition Commission of India (CCI) has given the green signal for significant investments in Akasa Air's parent company, SNV Aviation Pvt Ltd. The approval allows Premji Invest, the family office of Manipal Group Chief Ranjan Pai, and 360 ONE Asset to acquire stakes in the burgeoning domestic carrier.

This strategic move focuses on injecting fresh capital into Akasa Air to bolster its ambitious growth ambitions. Notably, the Jhunjhunwala family, which holds a substantial 45.97% stake in the airline, has pledged additional funding support, while other prominent figures like CEO Vinay Dube and others hold significant shares.

Industry regulations mandate CCI involvement in deals surpassing specific thresholds to ensure fair competition. As new shareholders come on board, existing stakeholder interests will experience dilution, marking a pivotal moment in Akasa Air's growth trajectory.

(With inputs from agencies.)