India, Nov. 14 -- Ranjan Pai's family office reportedly plans to invest an additional INR 250 Cr in cash-strapped Aakash Educational Services Ltd (AESL) during the coaching chain's ongoing INR 450 Cr to INR 500 Cr rights issue.

Sources told Livemint that Pai's family office will invest the funds in tranches, depending on the response of other shareholders and the achievement of certain targets set for the company.

As per the report, the first tranche of INR 100 Cr has already been approved and will be likely disbursed soon. The remaining is reportedly expected to trickle in the next three months, subject to fulfilment of certain performance metrics.

Subscribing to the rights issue will further lift Pai's stake in Aakash. That said, Pai...