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Adani Enterprises, the flagship company of billionaire Gautam Adani’s group, has acquired nearly 30% of Start Enterprises Pvt Ltd, the owner of the online railway ticket purchasing platform Trainman.
Adani Enterprises stated last month that it has struck an agreement to buy 100% of SEPL.
Adani Enterprises said in a stock market statement on Saturday that Adani Digital Labs Pvt Ltd, a wholly-owned subsidiary of the business, has purchased a 29.81 percent ownership in SEPL for Rs 3.56 crore.
SEPL generated a revenue of Rs 4.51 crore in fiscal year 2022-23 (April 2022 to March 2023).
Adani Group defined SEPL last month as “an online train booking and information platform,” but on Saturday it identified the company as “e-commerce and website development.”
The news last month sparked a mini-controversy, with Congress national secretary Jairam Ramesh speculating that Adani’s acquisition of Trainman may eventually lead to the acquisition of IRCTC, the Indian Railways’ ticketing and other services arm.
The IRCTC published a statement denying the accusations. In explaining the e-ticketing business area, IRCTC stated that around 14.5 lakh reserved tickets are bought everyday in Indian Railways.
Almost 81 percent of these are e-tickets purchased through IRCTC.
As a result, IRCTC and its agents, including Trainman, do not compete.
Adani Group New Move
Adani Trainman, an IRCTC B2C partner, provides 0.13 percent of total reserved tickets, it said, adding that because these enterprises are linked with IRCTC, they support consumers in a seamless ticketing process overall.
Trainman is an Indian travel booking app founded in 2011 by Vineet Chirania and Karan Kumar that allows passengers to check the PNR (Passenger Name Record) status, predicts the possibility of getting a confirmed seat in the case of a wait-list, and provides real-time updates on seat availability, running status, time table, coach position, fare calculator, and so on.
Adani Group’s second venture in the travel booking and information area is Trainman.
Adani Enterprises purchased a minority investment in Flipkart’s Cleartrip Pvt Ltd, an online travel aggregator, in October 2021.