Wipro Founder Azim Premji And Manipal Group’s Ranjan Pai To Invest In Akasa Air
Azim Premji’s family office, Premji Invest, and Ranjan Pai’s Claypond Capital have secured a minority stake in Akasa Air as part of a $130-140 million fundraising initiative. This investment marks a significant step for the airline, which is aiming to expand its operations. The deal values Akasa Air at just under $350 million, a considerable increase from its 2021 valuation of $86 million. The funding is expected to fuel the airline’s growth, including fleet expansion and aircraft pre-delivery payments.
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