Trilegal has advised Akasa Air on its latest fundraise led by Premji Invest, Claypond Capital, and 360 ONE, which were all represented by AZB & Partners in separate mandates.
Premji Invest, Azim Premji's investment arm, Claypond Capital, the investment office of Ranjan Pai, and 360 ONE have invested between $130 and 140 million in this round, with the Jhunjhunwala family, Akasa Air’s majority shareholder, also committing additional capital, according to media reports.
The capital will support Akasa's international expansion and customer experience investments. Despite supply chain challenges and Boeing delivery delays affecting its growth plans, Akasa aims to transport approximately 20 million domestic passengers annually by 2027, capturing 12-15 percent of India's domestic market, while serving nearly 1.5 million international passengers yearly.
The Trilegal corporate team advising Akasa was led by partner Kunal Chandra, along with counsel Anamika Ray, senior associates Esha Himadri, Aditya Nandakumar, and Nezhat Fouzdar, and associates Sharnam Vaswani, Shambuk Biswas, Saee Hingmire, Krishna Nair, Varshini Agarwalla, Nithyashree Venkataraman, Harshit Dhandia, Disha Rathod, and Rajdeep Mukherjee. The firm's competition team was led by partner Gautam Chawla.
AZB's team representing Premji Invest was led by senior partner Divya Mundra and partner Devika Nayak, with associates Darshan Rampuria and Pragya Dixit. They received support from senior partner Anand Shah and partner Sarah Rufus on aviation law aspects, while partner Kirthi Srinivas handled anti-trust matters.
Separately, AZB advised 360 ONE Alternates Asset and Claypond Capital through a team led by senior partner Nandita Govind, partner Anshuman Vikram Singh, and senior associate Guncha Dhiman, with support from partner Hemangini Dadwal on competition aspects.
