Adani to acquire Trainman, a train booking app

On Friday, the Adani Group’s wholly-owned subsidiary Adani Digital Labs announced that it was acquiring 100% of the stock in Stark Enterprises, the company in charge of running the online train reservation system Trainman.

“Adani Digital Labs Private Limited, a wholly owned subsidiary of the Company has signed a Share Purchase Agreement in relation to its proposed acquisition of 100% stake in Stark Enterprises Private Limited, also known as Trainman, an online train booking and information platform,” the Adani Group announced in a stock exchange notification. The transaction’s financial specifics, however, were not made public.

The IRCTC-approved start-up for booking train tickets, SEPL, is situated in Gurugram and was founded by IIT-Roorkee grads Vineet Chirania and Karan Kumar. It is an all-inclusive portal that offers a one-stop shop for purchasing railway tickets online.

The Adani Group is in discussions with lenders to refinance a loan facility it took to buy Ambuja Cements Ltd. last year up to $3.8 billion. The majority of its current lenders, including Barclays Plc, Deutsche Bank AG, Standard Chartered Plc, and Mitsubishi UFJ Financial Group Inc., are anticipated to participate. The group, run by billionaire Gautam Adani, anticipates finishing the process in four months.