"Twinkle was blessed with a baby girl this morning," Twinkle's mother, veteran actress Dimple Kapadia, told IANS.
Twinkle delivered the baby at the Breach Candy Hospital here.
"Both mother and daughter are fine," Vijay Zaveri, a family friend told IANS.
Akshay has been busy promoting his forthcoming film "Oh My God", set to release Friday. He was by his wife's side to welcome their daughter.
My daughter looks like Twinkle: Akshay
Akshay Kumar, who became a father for the second time Tuesday, says his newborn daughter resembles his wife Twinkle.
"We are blessed with a lovely baby girl, who looks just like her mother and grandmother (veteran actress Dimple Kapadia)," the 45-year-old said in a statement.
Twinkle delivered the baby, their second child after 10-year-old son Aarav, at the Breach Candy Hospital here Tuesday morning.
Akshay was in Jaipur Monday evening to promote his forthcoming film "Oh My God", but rushed back to Mumbai to be by his wife's side. He is extremely happy.
"I have no words to express my happiness. I would like to thank everyone for their blessings and best wishes," added the actor.
Photos: Tamannaah Bhatia sizzles in metallic gown
Photos: Arjun Kapoor and Raj Thackeray at event in Mumbai
In pictures: Here are the fastest ODI centuries in cricket history
'Shaadi No. 1': 10 famous Bollywood weddings in pictures
Photos: Shah Rukh Khan, Shweta Bachchan at Karan Johar's book launch