Adani Enterprises (AEL) has entered into an agreement to acquire the entire stake in Stark Enterprises, popularly known as Trainman — an online train booking and information platform — as the group resumes its acquisition journey in the technology and artificial intelligence (AI) space.
This is the second investment in the travel booking space for AEL, after it acquired a minority stake in Flipkart India’s online travel aggregator Cleartrip in October 2021. AEL will acquire Trainman through its wholly-owned subsidiary Adani Digital Labs, the company said in a stock exchange update, without disclosing financial terms of the deal.
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Gurugram-based Trainman, founded in 2011 by IIT Roorkee graduates Vineet Gupta and Sachin Saxena, is an authorised booking partner of Indian Railway Catering and Tourism Corporation, and provides real-time information related to seat availability, passenger name record and live train status. In September last year, Adani Group acquired Switzerland-based Holcim Group’s stake in Ambuja Cements and ACC for $6.5 billion in cash.