New Delhi: Ahmedabad-headquartered Adani group on Friday said that it is in the process to acquire a significant minority stake in online travel company Cleartrip Private Limited, and hopes to complete the deal in November.
This acquisition will be an essential part of a super application that the conglomerate is developing to club all its offering digitally under a unified platform.
Cleartrip, which is controlled by e-commerce giant Flipkart, is a prominent online travel aggregator (OTA) in India and competes with the likes of MakeMyTrip, Yatra and ixigo.
As a part of the investment, Cleartrip will also serve as the Adani Group’s OTA partner, the Adani Group said in the statement.
“Through this investment, the Adani Group and the Flipkart Group will benefit from synergies that will deliver superior travel experiences to consumers as the travel industry in India sees a resurgence,” Adani Group said without elaborating on the details of the deal.
“Also, trends observed by Adani airports indicate that the number of passengers at airports has increased, reaching close to pre-covid highs. This partnership will further enable Cleartrip to transcend digital boundaries and bring end-to-end travel services online,” it added.
Adani Group is currently the largest Indian private airport operator which has the operational control of the country’s second busiest airport at Mumbai. The conglomerate, which is present in businesses as varied as ports, power and gas, also operates six other airports, namely, Lucknow (LKO), Ahmedabad (AMD), Mangaluru (IXE), Guwahati (GAU), Jaipur (JAI) and Thiruvananthapuram (TRV).
“We have a strongly developing relationship with Flipkart that spans multiple dimensions including data centres, fulfilment centers and now air travel,” said Gautam Adani, Chairman of the Adani Group.
“It is such strategic partnerships among homegrown companies which will eventually create local jobs as well as an Atmanirbhar Bharat. The Cleartrip platform will become an essential part of the broader SuperApp journey we have embarked upon,” he added.
“As travel picks up over the next few months, Cleartrip will continue to focus on providing easy and flexible travel experiences for its customers,” said Kalyan Krishnamurthy, chief executive officer of Flipkart Group.
“We strive to strengthen our relationship with the Adani Group and will explore ways in which we can expand our offerings for consumers, leveraging their robust travel infrastructure in the country,” Krishnamurthy added.
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