Adani Enterprises’ share price traded flat to start the fresh week on Monday after the company announced acquiring Stark Enterprises Private Limited.

What Happened: The Adani Group‘s flagship company announced the acquisition late last week. The company informed the exchanges that Adani Digital Labs a wholly owned subsidiary of the company has signed a share purchase agreement to buy a 100% stake in Stark Enterprises, also known as Trainman.

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Trainman is an online train-booking and information platform with over 10 million downloads on the Google Play Store. The acquisition stirred controversy after opposition leader Jairam Ramesh questioned the deal in a tweet, expressing concerns that Adani could take over IRCTC.

However, IRCTC came out with a clarification on Sunday, that the acquisition doesn’t hamper its business interests. In a statement, the ticketing platform said, “Trainman is one of the 32 B2C partners of IRCTC contributing 0.13% of total reserved ticketing. Its acquisition by any other agency will not change the application of the extant B2C policy in any way. All the integrations and operations will continue to be done
through IRCTC only as is being done presently.

Price Action: Adani Ent’s share price was up 0.15% to trade at ₹2,513.40 as the markets opened on Monday.

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