Adani Enterprise picks up minority stake in Cleartrip
Adani Enterprises has acquired a significant minority stake in Flipkart-owned Cleartrip, giving India’s biggest airports operator a foothold in the fast-growing online flight-booking space amid its super app plans.
The deal, whose financial details weren’t disclosed, comes when the travel and hospitality industry at large is witnessing a post-pandemic revival of sorts. The transaction is likely to close next month, subject to necessary approvals.The investment will further enhance the strategic partnership between the Adani Group and the Flipkart Group, which are already in alliance in the logistics and warehousing space.
Since the acquisition by Flipkart Group, Cleartrip has seen 10x growth in flight bookings, Adani Enterprises said.
The deal would also bolster Adani’s super app plans.