Team Blitz India
MUMBAI: Adani Enterprises Limited (AEL) is all set to acquire the online train booking and information platform Trainman via its wholly-owned subsidiary Adani Digital Labs.
The board at AEL has informed that its wholly owned subsidiary, Adani Digital Labs Pvt Ltd has signed a Share Purchase Agreement (SPA) in relation to its proposed acquisition of 100% equity shares in Trainman (Stark Enterprises Pvt Ltd), document filed with the National Stock Exchange (NSE) shows.
The Gurugram-based train ticket booking platform, Trainman was founded by IIT Roorkee graduates Vineet Chirania and Karan Kumar. As per its website, it has over 8 million app downloads and claims to have more than 1 million train ticket booking.
Trainman has raised around $1.15 million (~Rs 9 crore) to date from Goodwater Capital, Hem Angels, Ivy Growth Associates and more. In its last funding round in July 2022, it raised around $1 million funds at a post-money valuation of $10 million (~Rs 80 crore).
