Private Equity Other Private Equity/Strategic Investments
Adani buys 20% stake in Flipkart-owned online travel aggregator Cleartrip
Source Times of India (opens in a new tab)Press Release (opens in a new tab)
Ahmedabad-based, publicly-listed Adani Enterprises Ltd is to acquire a "significant minority stake" in Mumbai-based, Flipkart-controlled online travel aggregator Cleartrip Pvt Ltd. Media reports estimate the size of the stake acquired at 20%.
As a part of the investment, Cleartrip will serve as the Adani Group's OTA partner. Adani, Flipkart and Cleartrip are expected to enter into a strategic partnership to offer travel-related products, loyalty programs and other value-added services.
Flipkart had acquired Cleartrip for about USD 40 million in a distress sale in April 2021.