Adani to Buy Stakes in Flipkart-owned Cleartrip

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Adani to Buy Stakes in Flipkart-owned Cleartrip
30 Oct 2021
7 min read

News Synopsis

Adani group has decided to buy a minority stake in Cleartrip, an Online Travel Aggregator (OTA) owned by Flipkart. Reports suggest that Adani now owns 20% stocks of Cleartrip which is substantial. Flipkart bought Cleartrip a few months back and since then the app claims to have become bigger, getting 10 times more flight bookings. Cleartrip is a travel aggregator that operates mostly in India and Middle Eastern countries such as UAE, Saudi Arabia, etc. The company is headquartered in Mumbai and Dubai. Cleartrip offers a variety of services including train reservations, flight bookings, hotel bookings, etc; even though OTA is a booming business, Cleartrip hasn't been that successful. 

Flipkart bought Cleartrip and since then the app has been doing good business. Flipkart, which is an online retail app, has been looking to expand its operation in India and Cleartrip is its first step into expansion. Now with Adani’s funding, Cleartrip can definitely become a major OTA application. Since the world was in lockdown for the past two years, the app saw huge losses like every other business but as borders are opening and people have begun to travel, the app has seen substantial growth in the number of users.