Adani Group Buys A 'Significant Minority' Stake In Cleartrip

Adani Enterprises has acquired a "substantial minority" stake in Cleartrip, a ticket and hotel booking service owned by Flipkart.

"It is such strategic alliances amongst domestic businesses that will eventually lead to the creation of local jobs and an Atmanirbhar Bharat. The Cleartrip platform will play a critical role in the larger SuperApp adventure we've begun ", according to Gautam Adani, Chairman of the Adani Group.

Kalyan Krishnamurthy, Chief Executive Officer of the Flipkart Group, commented on the news, saying that the company will work to enhance its relationship with Adani Group and 'explore ways in which we can extend our services for customers, utilising their extensive transport infrastructure in the nation'.

The deal is expected to close in November 2021, subject to customary closing conditions.