Adani buys stake in Cleartrip, Flipkart-owned travel booking app
The transaction is expected to close in November 2021, subject to customary closing conditions.
“With this investment, Adani Group and Flipkart Group will benefit from synergies that will deliver superior travel experiences to consumers as the travel industry in India experiences a resurgence… This partnership will further enable Cleartrip to transcend digital boundaries and to end the termination of online travel services, ”the conglomerate led by Gautam Adani said in a statement.
As part of the investment, Cleartrip will also serve as the Adani Group’s online partner.
“We have a growing relationship with Flipkart that spans multiple dimensions including data centers, fulfillment centers and now air travel,” said Gautam Adani, President of the Adani Group, adding that the Cleartrip platform “will become a staple of the larger SuperApp.” journey we embarked on.
Speaking on the development, Kalyan Krishnamurthy, CEO of Flipkart Group, said, “At Flipkart Group, we are focused on delivering experiences to consumers and providing them with opportunities to help them achieve their aspirations. As travel picks up over the next few months, Cleartrip will continue to focus on providing easy and flexible travel experiences for its customers. We are working to strengthen our relationship with the Adani Group and will explore ways to expand our offerings for consumers, taking advantage of their strong travel infrastructure in the country. “
Shares of Adani Enterprises closed Friday up 2.19% at 1,423.50 each on BSE.
This article first appeared on livemint.com.