Financial Insights

Adani Group to pick up stake in Cleartrip, firms up ties with Flipkart

Adani Group, India’s fastest growing and diversified conglomerate, is an online travel aggregator (OTA) investing in Cleartrip Private Limited, part of the e-commerce company Flipkart Group. As part of this investment, the Adani Group will acquire a significant minority stake in Cleartrip. Both companies did not provide information about the value of the transaction.

Through this investment, Adani Group and Flipkart Group will benefit from the synergistic effect of providing consumers with a superior travel experience as the Indian travel industry thrives.

Cleartrip has seen a 10-fold increase in flight bookings since it was acquired by Flipkart Group. The trends observed at Adani’s airport also indicate that the number of passengers at the airport is increasing and is close to pre-Covid-19 highs.

This partnership will also allow Cleartrip to push the boundaries of digital and bring end-to-end travel services online.

“We have a very evolving relationship with Flipkart, which spans multiple dimensions, including data centers, fulfillment centers, and now air travel,” said Adani Group’s Gortam Adani. The chairman said. “Ultimately creating local jobs is such a strategic partnership between local businesses and Atmanirbhar Bharat. The Cleartrip platform will be an integral part of our broader SuperApp journey. prize.”

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