Akasa Air eyes $75 million to $100 million via fresh equity

Akasa Air seeks to raise $75 million to $100 million by offering fresh shares in order to expand its business. The airline will use these funds to make aircraft pre-delivery payments. Akasa ordered 72 Boeing 737 Max aircraft, of which 19 have been delivered. Akasa Air has sought out to potential investors, including private equity (PE) firms and high-net-worth individuals (HNIs), for the fundraising. The capital injection is predicated on the airline’s $650 million valuation. The fundraising is likely to dilute the stake of the Jhunjhunwala family of around 46 per cent in the airline through a trust.