The Competition Commission of India (CCI) on Tuesday gave the green light to four key investment proposals, including the acquisition of stakes in Akasa Air’s parent company SNV Aviation. The move marks a significant step forward in the ongoing expansion and consolidation within India’s aviation and healthcare sectors.
According to the CCI’s approval, Premji Invest, the family office of Wipro founder Azim Premji, along with Ranjan Pai’s family office (head of the Manipal Group), and 360 ONE Asset, have received clearance to acquire a stake in SNV Aviation. The deal is expected to infuse fresh capital into Akasa Air, India’s newest budget airline, and support its fleet expansion and route network growth.
Akasa Air, which began operations in 2022, has rapidly scaled up its domestic presence and recently ventured into international routes. The latest investments are expected to strengthen the airline’s financial backbone amid increasing competition in the Indian aviation space.
In another major decision, the CCI approved the acquisition of Quality Care India Ltd (QCIL), which operates under the Aster DM Healthcare brand, by the promoters of Aster. The restructuring move is aimed at simplifying the group’s ownership pattern and strengthening its operations across India. Aster DM Healthcare is a leading player in the healthcare industry with a strong presence across South India and the Middle East.
The approvals indicate a proactive stance by the CCI in facilitating investments that are expected to bring long-term benefits to key sectors such as aviation and healthcare, while ensuring that competition in the market remains unaffected.
