The Adani Group has acquired “a significant minority” stake in Flipkart-owned Cleartrip Pvt., a ticket and hotel booking portal, as the conglomerate looks to increase its presence in the travel segment after controlling nearly a quarter of India’s airport capacity.
Billionaire Gautam Adani-led ports-to-power plants group’s investment in Cleartrip comes just six months after the travel firm was acquired by Flipkart. The group’s media statement didn’t disclose the financial details of the transaction.
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 resurgence, the company said in a statement on Friday. It will enhance the strategic partnership between the Adani Group and the Flipkart Group.
Earlier this year, Flipkart signed a pact with tycoon Adani to build one of the largest retail warehouses in the country.
“We have a strongly developing relationship with Flipkart that spans multiple dimensions including data centres, fulfillment centres and now air travel,” said Gautam Adani, chairman of the Adani Group and India’s second-richest man. “The Cleartrip platform will become an essential part of the broader Super App journey we have embarked upon.”