Akasa Air, which started operating in August 2022, announced on Thursday that the company has tied up with Premji Invest, Ranjan Pai’s investment office and 360 One Asset and other investors to insert new capital in the aviation company. In addition, the Jhunjhunwala family (about 40 per cent stake) has also committed to insert additional capital in the aviation company. The aviation company did not disclose the investment amount or how much stake was sold. However, sources said that the company plans to raise $ 12.5 million.
The company’s net loss doubled in the year 2023-24 to Rs 1,670 crore. Meanwhile, the company’s total income rapidly jumped up to Rs 3,144 crore in 2023-24. In a statement on Thursday evening, the airline said, “Premji Invest (Azim Premji’s global investment unit), Cleepond Capital (Ranjan Pai’s Investment Office) and 360 One Asset, the Consortium of good investors of the country with Akasa Air The investment agreement is signed. BS