The Adani Group, led by Gautam Adani, invested in the travel booking app Cleartrip
The Adani Group, headed by billionaire Gautam Adani, announced on Friday that it will invest in Cleartrip Private Limited and take a large minority share in the online travel aggregator, which is part of the Flipkart Group.
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 a resurgence. Since the acquisition by the Flipkart Group, Cleartrip has seen 10x growth in flight bookings," the Adani Group said. Also, 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, they added.
The following are ten issues to consider concerning the Adani-Flipkart deal:
1. Adani Enterprises Ltd, the flagship company of the Adani Group, has agreed to buy a "substantial minority investment" in Cleartrip for an undisclosed value, according to an exchange filing on Friday.
2. The transaction is expected to close in November, subject to customary closing conditions.
3. Investing in Cleartrip might help the port-to-power company's plans to launch a super app and expand its airport management business. "The Cleartrip platform will become a critical component of our bigger SuperApp journey." In a statement, Gautam Adani said, "We have a strong evolving partnership with Flipkart that covers numerous dimensions, including data centres, fulfillment centres, and now air travel."
4. The investment would strengthen the strategic cooperation between the Adani Group and the Flipkart Group, as both companies strive to provide a diverse range of digital services to Indian consumers. As part of the investment, Cleartrip will also function as the Adani Group's OTA partner.
5. By partnering with the Adani Group in areas such as travel-related products, loyalty programs, and other value-added services, Cleartrip hopes to provide consumers with a smooth travel experience and accelerate its growth.
6. According to Gautam Adani, "We have a strong evolving connection with Flipkart that spans numerous dimensions including data centres, fulfillment centres, and now air travel." "It is such strategic alliances between domestic enterprises that will eventually lead to the creation of local jobs and an Atmanirbhar Bharat." The Cleartrip platform will play a critical role in the larger SuperApp journey we've begun."
7. "At the Flipkart Group, we are dedicated to offering consumers with experiences and opportunities to help them achieve their goals." Cleartrip will continue to focus on providing easy and flexible travel experiences for its consumers as travel picks up in the coming months, according to Kalyan Krishnamurthy, CEO of Flipkart Group.
8. The new agreement will aid Adani in its struggle against competitor corporations who are developing all-in-one e-commerce apps.
9. In April, Flipkart Online Services Pvt secured an agreement with the Adani Group to construct one of India's largest retail warehouses.
10. Adani Logistics is constructing a 534,000-square-foot fulfilment centre in Mumbai, which it will lease to Flipkart.
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