Adani Group set to acquire train booking platform Trainman

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The financial details of the transaction were not disclosed

Adani Group TrainmanThe Adani Group is in talks with lenders to refinance up to $3.8 billion of a loan facility taken for its acquisition of Ambuja Cements Ltd last year. (File Photo)

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Adani Digital Labs, a wholly owned subsidiary of the Adani Group, said on Friday that it is acquiring 100% equity in Stark Enterprises, that operates the online train booking platform Trainman.

“Adani Digital Labs Private Limited, a wholly owned subsidiary of the Company has signed a Share Purchase Agreement in relation to its proposed acquisition of 100% stake in Stark Enterprises Private Limited, also known as Trainman, an online train booking and information platform,” a stock exchange notification from the Adani Group read.

However, the financial details of the transaction were not disclosed.

Founded by IIT-Roorkee graduates Vineet Chirania and Karan Kumar, the Gurugram-based SEPL is an IRCTC-authorised train ticket booking start-up. It is an all-in-one train ticket booking platform that provides a one-stop solution for booking train tickets online.

The Adani Group is in talks with lenders to refinance up to $3.8 billion of a loan facility taken for its acquisition of Ambuja Cements Ltd last year. The conglomerate, led by billionaire Gautam Adani, expects to conclude the process within four months and most of its existing lenders, including Barclays Plc, Deutsche Bank AG, Standard Chartered Plc and Mitsubishi UFJ Financial Group Inc, are expected to participate.

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First published on: 17-06-2023 at 17:17 IST



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