Before his death, Jhunjhunwala & family became Akasa's biggest shareholders

Three trusts named after his twin sons and daughter now hold 27% stake in firm; combined family holding at 46%

Akasa Air
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Photos: PTI & Aneesh Phadnis

Sai Manish New Delhi
Seven months before the launch of Akasa Air and the death of Rakesh Jhunjhunwala, the ‘Big Bull’ and his family became its largest shareholders after three trusts, in the names of his sons and daughter, bought shares in the company. With those transactions the family’s combined holding increased to around 46 per cent from 16 per cent earlier.

Two of the trusts, Aryaman Jhunjhunwala Discretionary Trust and Aryavir Jhunjhunwala Discretionary Trust, are named after his twin sons. The third one, Nishtha Jhunjhunwala Discretionary Trust, is named after his daughter.

According to filings with the Registrar of Companies, Jhunjhunwala’s wife Rekha

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First Published: Aug 22 2022 | 10:46 AM IST

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