NEW DELHI: Adani Group on Friday announced that it would acquire a ‘significant’ minority stake in Flipkart-owned online travel aggregator Cleartrip Private Limited.
The company, however, has not yet announced the size of the deal or the stake it is picking up in Cleartrip.
In a press statement, the company said that both groups would benefit from synergies that will deliver superior travel experiences to consumers as the travel industry in India sees a resurgence.
Since the acquisition by the Flipkart Group, Cleartrip has seen 10x growth in flight bookings.
“Trends observed by Adani airports indicate that the number of passengers at airports has increased, reaching close to pre-covid highs. This partnership will further enable Cleartrip to transcend digital boundaries and bring end-to-end travel services online,” it said in the statement.
“It is such strategic partnerships among homegrown companies which will eventually create local jobs as well as an Atmanirbhar Bharat. The Cleartrip platform will become an essential part of the broader SuperApp journey we have embarked upon,” Gautam Adani, Chairman of the Adani Group said while announcing the partnership.
The deal is expected to close in November 2021, subject to customary closing conditions.