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

Akasa Air is raising around ₹1,100 crore from investment offices of Azim Premji and Dr Ranjan Pai, as well as funds managed by 360 ONE Asset to support its operations and prepare for growth.

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.

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.

Akasa Air said on Thursday that it has signed agreements with marquee investors to infuse fresh capital into the airline. A consortium of investors, including Premji Invest, the global investment arm of IT Czar Azim Premji,

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,