Adani Group Acquires Trainman to Expand Railway Ticketing
Adani Enterprises, a prominent conglomerate, announced on Friday (June 16) that its wholly-owned subsidiary, Adani Digital Labs Private Ltd, has made an agreement to acquire the railway ticketing startup Trainman. In a significant development, the Adani Group acquires Trainman, marking a strategic move to strengthen its presence in the digital and transportation sectors. This acquisition showcases Adani’s commitment to expanding its portfolio and capitalizing on the growth potential of innovative startups like Trainman.
According to a regulatory filing, Adani Digital Labs has signed a share purchase agreement to obtain a 100% stake in Trainman, also known as Stark Enterprises. Trainman is an online platform that offers train booking services and information. The financial specifics of the deal were not disclosed, although Trainman was previously valued at approximately INR 80 crore. In July of last year, the company secured $1 million in seed funding.
Trainman, established in 2016 by Vineet Chirania and Karan Kumar, has attracted investments from notable entities like Goodwater Capital and Ivy Growth Associates. The platform competes directly with Confirmtkt, which ixigo acquired in 2021.
This acquisition aligns with Adani Group’s strategy to enhance its presence in the ticketing sector. Over the past two years, the conglomerate has made several acquisitions across various industries to strengthen its travel division.
By acquiring Trainman, Adani Group aims to elevate railway ticketing services and offer improved solutions to customers. The transaction signifies Adani’s commitment to expanding its reach and diversifying its portfolio within the travel industry.
About Adani Group:
The Adani Group is a multinational conglomerate headquartered in Ahmedabad, India. It was founded by Gautam Adani in 1988, with its initial emphasis on commodity trading. Since then, the Group has diversified its activities and now operates across several sectors, including port management, electric power generation and distribution, renewable energy, mining, airport operations, natural gas, food processing, and infrastructure. It is worth noting that coal-related enterprises account for more than 60 percent of the Adani Group’s revenue.
About Trainman:
Trainman, in collaboration with IRCTC, enables you to easily book train tickets. It serves as a convenient platform for online train ticket booking, checking PNR status, and predicting ticket confirmation status prior to making a booking.
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