Trilegal was sole adviser for a first-round investment of about INR3.5 billion (USD46 million) in SNV Aviation, which is in the process of setting up Akasa Air, from a group of investors led by Rare Enterprises and its owner, Rakesh Jhunjhunwala.
The deal was signed on 18 December 2021 and completed on 4 February.
Trilegal’s team was led by partners Sridhar Gorthi, Nishant Parikh and Kunal Chandra, and included partners Shruti Rajan and Kunal Gupta. They were assisted by senior associates Tanya Nanda, Kanishka Maggon and Prashant Prakhar, and associates Kunal Paleja, Mayank Jain, Mansi Khandelwal and Paridhi Khulbe.
In October 2021, SNV Aviation, which will operate Akasa Air, received a no-objection certificate from the Ministry of Civil Aviation. Akasa Air ordered 72 Boeing 737 MAX aircraft in November 2021 and is expected to begin operations in 2022 as India’s eighth scheduled operational passenger airline.
