Adani Group Ventures into Online Train Ticket Booking with Acquisition of Trainman Platform
Adani Group is now preparing to enter the railway sector. Adani Enterprises will soon start selling train tickets online. Adani Enterprises provided information to the stock exchange on Friday, June 16th, stating that it will acquire 100% stake in Stark Enterprises Private Limited (SEPL).
Adani Enterprises has provided information that “Adani Digital Labs Private Limited (ADL)” has signed a Share Purchase Agreement (SPA) for acquiring a 100% stake in Stark Enterprises Private Limited (SEPL). However, the details of the deal between the two companies have not been disclosed yet.
Adani Digital Labs Private Limited is a subsidiary of Adani Enterprises.
Stark Enterprises is recognized as “Trainman” as well. Trainman, founded by Vinay Chirania and Karan Kumar, graduates from IIT Roorkee, is associated with the Indian Railway Catering and Tourism Corporation (IRCTC) for the official start-up of online train ticket bookings.
Through this all-in-one train ticket booking platform, you can not only book train tickets but also access information such as PNR status, coach position, live train status, and seat availability.
Adani Enterprises’ shares have increased by 100% in just four months. By the end of February 2023, due to heavy selling triggered by the Hindenburg Research report, Adani Enterprises‘ shares had dipped to nearly ₹1,195 on the NSE. However, since then, the company’s shares have surged past ₹2,500. The company’s shares have seen a significant increase of more than 100% in a relatively short period of four months.
On Friday, the stock of IRCTC closed at ₹666. On the other hand, the price of IRCTC shares has been trending upwards since November 2022. In the past month alone, IRCTC shares have seen an increase of approximately 9%. Recently, the shares of IRCTC broke out at ₹645, and on Friday, it closed at ₹666 on the NSE.
Conclusion
The Adani Group’s entry into the online train ticket booking sector through the acquisition of the Trainman platform marks a significant milestone in their business diversification strategy. By leveraging their expertise, resources, and technological advancements, the conglomerate aims to provide customers with a seamless and user-friendly ticketing experience. As they embark on this new venture, the Adani Group is poised to make a notable impact in the online ticketing industry, shaping the future of train travel in India.
