Mumbai-based Akasa Air will likely get a fund induction of between $130-140 million from existing and new shareholders.
Economic Times, a leading economic daily in India, reported on Friday that a consortium which includes the close to 100-year-old Indian group the Manipal Group chief, Ranjan Pai, and Premji Investment and Claypond Capital Wipro, the Bengaluru-based family office of Wipro founder, Azim Premji is to pump in the money into the airline (Premji-Ranjan Pai family offices to board Akasa with big stake buy – The Economic Times). The consortium is likely to pick up a minority stake in the airline. While the Manipal Group is an industrial conglomerate navigating the world and offering services and products for a better world, Wipro is a leading technology services and consulting company.
