Premji Invest, Ranjan Pai family office seek nod for stakes in Akasa Air

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Premji Invest, Ranjan Pai family office seek nod for stakes in Akasa Air - Business Standard

Quick Summary:

Tech tycoon Azim Premji's global investment arm, Manipal Group Chief Ranjan Pai's family office and 360 ONE Asset have sought approval from fair trade regulator CCI to acquire stakes in domestic carrier Akasa Air's parent company SNV Aviation.

"The proposed transaction involves the acquisition of certain shareholding by each of PIOF, Claypond and 360 Fund (through its various schemes and affiliates) in Akasa Air," said a notice filed with the Competition Commission of India (CCI) on Wednesday.

PIOF is a Sebi-registered alternative investment fund owned and controlled by Premji Invest, while Claypond is an arm of the Pai family group.