Adani Group new investment in railways, bought about 30 percent stake in Trainman
This is Adani Group's second investment in the travel sector after buying a nearly 30 percent stake in Trainman. Adani Digital Labs Pvt Ltd has bought a 29.81 percent stake in SEPL for Rs 3.56 crore, in a stock exchange filing today. Know what kind of facilities the trainman and passengers get.
Billionaire Gautam Adani's flagship company Adani Enterprises has bought around 30 percent stake in Start Enterprises Pvt Ltd. Start Enterprises Private Limited is the owner of Trainman, an online train ticket booking platform.
Adani Enterprises announced last month that it has signed an agreement to acquire a 100 percent stake in Start Enterprises Pvt Ltd (SEPL).
In a stock exchange filing on Saturday, Adani Enterprises said Adani Digital Labs Pvt Ltd, a wholly-owned subsidiary of the company, has bought a 29.81 percent stake in SEPL for Rs 3.56 crore.
Trainman is Adani Group's second foray into the travel booking and information space. In October 2021, Adani Enterprises bought a minority stake in online travel aggregator Flipkart's Cleartrip Pvt Ltd.
SEPL had a turnover of Rs 4.51 crore in the financial year 2022-23 (April 2022 to March 2023). Last month, Adani Enterprises described SEPL as "an online train booking and information platform", on Saturday it described the company as one in "e-commerce and website development".
About 14.5 lakh reserved tickets are booked daily in Indian Railways. Of these, about 81 percent are e-tickets that are booked through IRCTC only.
Trainman, being a B2C partner of IRCTC, contributes only 0.13 percent of the total reserved ticketing.
Trainman, founded in 2011 by Vineet Chirania and Karan Kumar, is an Indian travel booking app. Through this app, passengers can check their PNR status, waitlisted ticket status, and confirmation probability.
Apart from this, passengers can also get real-time updates on seat availability, train running status, timetable, coach position, fare calculator, etc. from this app.
