Gautam Adani's Adani Group is now preparing to enter the railway sector. Adani Enterprises will soon sell train tickets online. Not only this, the company will also challenge the monopoly (monopoly) of the Indian Railway Catering and Tourism Corporation (IRCTC) in the online train ticket booking business.
Adani Enterprises has informed the Indian Stock Market about these intentions on Friday (June 16). The company has also told that for this business plan, it will acquire 100% stake in Stark Enterprises Private Limited (SEPL).
Adani Enterprises informed the stock market, 'Adani Digital Labs Private Limited (ADL) has signed the Share Purchase Agreement (SPA) in connection with the proposed acquisition of 100% stake in Stark Enterprises Private Limited.' However, the information about how much this deal has been done between the two companies has not been received yet. Adani Digital Labs Private Limited is a wholly owned subsidiary of Adani Enterprises.
Giving details about the purpose of the agreement, Adani Enterprises said, 'The SPA records the terms of the agreement, mutual rights, obligations and other matters in connection with the acquisition of 100% equity shares of SEPL.'
Stark Enterprises Private Limited is also known as 'Trainman'. Trainman is an authorized online train ticket booking platform operated by Gurugram based Stark Enterprises. Apart from booking train tickets through this platform, you can get information like PNR status, coach position, live train status and seat availability.
In late February 2023, Adani Enterprises shares had hit a low of around ₹1,195 on the NSE after heavy selling due to the Hindenburg Research report. Recovering from its year-to-date low, Adani Enterprises share price has crossed the mark of around ₹2505 on Friday last week. In less than four months, the company's stock has grown by more than 100%.