Adani Digital To Acquire Online Train Booking Platform Trainman
Adani Enterprises Limited (AEL), the flagship company of Adani Group, has revealed its intention to acquire Trainman, an online platform that provides train booking and information services. The announcement was made on Friday, and the acquisition is expected to be completed soon.
Adani Enterprises Limited (AEL) has announced that its subsidiary, Adani Digital Labs Private Limited, has signed a share purchase agreement to acquire 100% stake in Stark Enterprises Private Limited (SEPL), which is also known as Trainman.
Trainman is an online platform that provides train booking and information services. The acquisition is subject to regulatory approvals.
Gurugram-based start-up SEPL, founded by Vineet Chirania and Karan Kumar, both graduates of IIT Roorkee, is making waves in the train ticket booking industry.
A group of US investors including Goodwater Capital and Hem Angels have invested $1 million in the company during its latest round of fundraising. This news comes as a significant boost for the company.
Adani Enterprises’ shares closed at ₹2,506.65 on the Bombay Stock Exchange (BSE) on Friday, showing a slight increase of 0.86% from the previous day’s closing price.
Adani Enterprises has announced that its subsidiary, Adani Digital Labs Private Ltd, has entered into an agreement to purchase Trainman, a startup that specializes in railway ticketing.
The acquisition was confirmed on Friday, June 16. Adani Digital Labs has announced its proposed acquisition of Stark Enterprises, also known as Trainman, a digital train booking as well as information platform.
The company made the announcement in a regulatory application with the exchanges, stating that it has signed a share purchase agreement for the acquisition of a 100% stake in Stark Enterprises.
Adani Digital Labs, a subsidiary of Adani Enterprises, has recently announced its acquisition of Trainman, a railway ticketing platform. As per the agreement, Adani Digital Labs will acquire a 100% stake in Trainman.
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According to sources, Trainman was valued at ₹80 crore in its last assessment. A startup has attracted investors such as Goodwater Capital and Ivy Growth Associates, according to recent reports.
Adani Group’s recent move to enter the ticketing industry is believed to be a part of their strategic plan. The conglomerate had launched Adani One, a platform for booking flights and cabs, in the previous year. This move is expected to strengthen their position in the ticketing sector.
