Adani Digital Labs Private Limited, a wholly-owned subsidiary of Adani Enterprises has acquired online train booking and information platform, Stark Enterprises also known as Trainman, the company announced through an exchange filing. Post the acquisition Adani Enterprises will begin selling online train tickets and challenge the monopoly of the Indian Railway Catering and Tourism Corporation in the online train ticket booking business.
The company did not reveal the financial terms of the deal.
Adani acquired minority stake in Cleartrip
This is the second investment in travel and booking space for Adani Enterprises after it purchased a minority stake in Cleartrip, Flipkart India's online travel aggregator in October 2021.
Trainman was founded in 2011 by IIT Roorkee Graduate Vineet Gupta and Sachin Saxena. The Gurugram-based company is an authorised booking partner of IRCTC and provides real-time information related to seat availability, live train status and passenger name record.
Adani Enterprises shares
The shares of Adani Enterprises on Friday closed at Rs 2,504.90, up by 0.77 per cent.