Akasa Air raises ₹450 Cr from shareholders
By Abha Lohia ·
Akasa Air: funding and every story →
- Akasa Air is an Indian airline operating in a tough market with slow traffic growth and crude oil above $100 a barrel
- It raised ₹450 crore by issuing convertible preference shares to 29 investors, including the Jhunjhunwala family and Premji's family office
- Rekha Jhunjhunwala put in ₹217 crore; the airline says more funds are being raised and new investors may join
What happened
- Akasa raised ₹450 crore.
- Shares were compulsorily convertible preference shares.
- 29 investors took part.
Why it matters
- Money covers operating costs and expansion.
- More capital is being raised.
The business
- Akasa Air is a passenger airline.
Who put in money
- Rekha Jhunjhunwala investor — ₹217 Cr
- Azim Premji family office investor — ₹94 Cr
What happens next
- Additional fundraise with new investors
Terms in this story
- Family office: A family office is a private company that manages the wealth of one wealthy family, or a few families together. In startups, family offices invest directly in companies and also back venture funds as limited partners.
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