Gautam Adani will now enter the railway sector
Gautam Adani will now enter the railway sector: Adani Group purchases the Trainman platform to compete with IRCTC in the online train ticket purchasing market.
Gautam Adani will now enter the railway sector: Adani Enterprises will soon start selling train tickets online. Along with this, the company will also challenge the monopoly (monopoly) of the Indian Railway Catering and Tourism Corporation (IRCTC) in the rail ticket online booking business.
100% SEPL shares acquired: Gautam Adani will now enter the railway sector
Adani Enterprises informed the Indian Stock Exchange about these intentions on Friday, 16 June. The company also announced that it will acquire 100% stake in Stark Enterprises Private Limited (SEPL) to implement this business plan. “Adani Digital Labs Private Limited (ADL) has signed a Share Purchase Agreement (SPA) in connection with the proposed acquisition of 100% stake in Stark Enterprises Private Limited,” Adani Enterprises informed the exchange. concluded between the two companies. Adani Digital Labs Private Limited is a subsidiary of Adani Enterprises. Elaborating on the purpose of the agreement, Adani Enterprises said: “The Sale and Purchase Agreement contains the terms of the agreement, mutual rights, obligations and other matters relating to the acquisition of 100% shares of SEPL.”
SEPL is also known as “Train Man”.
Stark Enterprises Private Limited is also known as Trainman. Trainman is an authorized online train ticket booking platform powered by Stark Enterprises from Gurugram. Apart from booking train tickets through this platform, you can also get information like PNR status, bus location, real time train status and availability.
100% growth in Adani shares in 4 months
At the end of February 2023, Adani Enterprises shares fell to an all-time low of around £1,195 on the NSE following massive selling amid a Hindenburg Research report. Adani Enterprises’ share price rose from a year-to-date low of 2,505 pounds on Friday last week. In less than four months, the company’s shares have risen by more than 100%.
IRCTC shares closed at Rs 666 on Friday: Gautam Adani will now enter the railway sector
On the other hand, IRCTC share price has remained in base formation mode since its inception in November 2022. However, IRCTC shares have gained nearly 9% over the last month. IRCTC shares recently broke above £645 per share and closed at £666 on NSE on Friday.
Adani Group will buy 100 per cent stake in Stark Enterprises. The company operates the Trainman platform for online train ticket booking. We would like to inform you that IRCTC is the largest online train ticket booking platform. Now with the entry of Adani in this field, this work has become even more serious. Trainman platform is the authorized online train ticket booking platform of IRCTC. It has been created by IITians Vineet Chirania and Karan Kumar. The head office of the company is Gurugram.Gautam Adani will now enter the railway sector.
This deal is very important for Adani after the attack of American research company Hindenburg. According to this report, Adani’s group has suffered a major setback. Following this report, the Adani group put on hold its business expansion and acquisition plans. Adani’s petrochemical development programme, the coal-to-polyvinyl chloride project at Mundra, has also been put on hold for the time being. In such a situation, it will act as a business booster.
100% recovery from Hindenburg Shock: Gautam Adani will now enter the railway sector
In light of the attack on the American research company Hindenburg, this agreement is crucial for Adani. This story claims that Adani’s team has experienced a significant setback. The Adani group postponed its corporate expansion and acquisition plans in the wake of this news. The Mundra coal-to-polyvinyl chloride project, part of Adani’s petrochemical development agenda, has also been temporarily suspended. It will serve as a business booster in such a circumstance.
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