Now Gautam Adani will end the monopoly of IRCTC, bought this big company related to online train ticket booking
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Now Gautam Adani will end the monopoly of IRCTC, bought this big company related to online train ticket booking. Adani Enterprises is soon going to foray into the business of selling train tickets online. Along with this, the Adani group will challenge the monopoly of the Indian Railway Catering and Tourism Corporation (IRCTC) in the online train ticket booking business. Adani Enterprises has informed the stock market about its move. The company informed that it has signed a share purchase agreement to acquire 100 per cent stake in online train ticket booking platform Trainman from Stark Enterprises Private Limited.
Adani bought 100% stake
Now Gautam Adani will end the monopoly of IRCTC, bought this big company related to online train ticket booking. Adani Enterprises has informed the stock market about the agreement. Giving information about the share purchase agreement in connection with the acquisition of 100% stake in Stark Enterprises Private Limited, Adani Enterprises informed that Adani Digital Labs Private Limited (ADL), a wholly owned subsidiary of the company, has entered into a stake purchase agreement with Stark Enterprises Private Limited (SEPL). A Share Purchase Agreement has been signed in connection with the proposed acquisition of 100% stake.
100% recovery after Hindenburg shock
Adani Enterprises shares had hit a low of around 1195 on the NSE at the end of February 2023 following heavy selling due to the Hindenburg Research report. Recovering from its year-on-year low, Adani Enterprises share price was at around 2505 level on Friday last week. The company has registered a growth of over 100 per cent in less than four months.Now Gautam Adani will end the monopoly of IRCTC, bought this big company related to online train ticket booking.
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