Adani Group buys stake in Flipkart-owned online travel aggregator Cleartrip
1 min read 29 Oct 2021, 06:05 PM ISTAs a part of the investment, Cleartrip will also serve as the Adani group's online partnerThe deal is expected to close in November 2021, subject to customary closing conditions
PremiumAdani Enterprises on Friday announced that it has acquired a ‘significant' minority stake in Cleartrip Private Limited, an online travel aggregator (OTA) and part of the Flipkart Group.
The deal is expected to close in November 2021, subject to customary closing conditions.
“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…This partnership will further enable Cleartrip to transcend digital boundaries and bring end-to-end travel services online," the Gautam Adani-led conglomerate said in a statement.
As a part of the investment, Cleartrip will also serve as the Adani group's online partner.
“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, adding that the Cleartrip platform "will become an essential part of the broader SuperApp journey we have embarked upon."
Speaking on the development, Kalyan Krishnamurthy, Chief Executive Officer, Flipkart Group, said, “At the Flipkart Group, we are focused on delivering experiences for consumers and providing opportunities to help them fulfil 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 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."
Shares of Adani Enterprises on Friday closed 2.19% higher at ₹1,423.50 apiece on BSE.
