India's Akasa Air said on Thursday it is raising fresh capital from the investment offices of Wipro founder Azim Premji and Manipal Hospitals Chairman Ranjan Pai, as well as funds of wealth management firm 360 ONE .

Tech tycoon Azim Premji’s global investment arm and Manipal group chief Ranjan Pai’s family office have invested an undisclosed sum of money to pick up a stake in Akasa Air, India’s youngest airline.

In addition, the airline said that the Jhunjhunwala family, a major stakeholder in the airline holding 45.97% stake in the airline, has also committed to infusing additional capital into the airline.

The consortium of investors includes the investment arm of Azim Premji, Claypond Capital – the investment office of Dr Ranjan Pai, as well as funds managed by 360 ONE Asset.

India's Akasa Air said on Thursday it is raising fresh capital from the investment offices of Wipro founder Azim Premji and Manipal Hospitals Chairman Ranjan Pai, as well as funds of wealth management firm 360 ONE.

Akasa Air, which started flying in 2022, has raised an undisclosed sum. It's the country's third-largest carrier with a market share of 4.6%.

Akasa Air secures fresh funding from Azim Premji's investment arm, Ranjan Pai's family office and others to fuel growth plans. This investment aims to position Akasa Air among the top 30 airlines globally.

Akasa Air said late Indian billionaire Rakesh Jhunjhunwala’s family would also pour additional capital into the airline

Akasa Air, India’s fastest-growing airline, has signed capital infusion agreements with a consortium of prominent investors to support its ambitious growth trajectory.The investors include Premji Invest,