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Nawal

Entrepreneur | Build...ย โ€ขย 5m

Electric cab-hailing startup BluSmart Mobility is reportedly grappling with a cash crunch, which caused the Delhi NCR-based company to default on INR 30 Cr of debt in early February. ๐Ÿ”ฐ BluSmart, which is in the middle of raising about INR 434 Cr in its Series B funding round, was required to repay INR 30 Cr with a coupon rate of 12% it secured via non-convertible debentures (NCDs) by February 3. ๐Ÿ”ฐ While BluSmart cleared its debt over the weekend, the Delhi NCR-based company now has to persuade the debenture holders not to declare a cross-default against it

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Wait What ?? Thats Smart Move ๐Ÿ”ฅ Climate-focussed PE firm Eversource Capital is in talks to acquire BluSmart, which is in trouble following the crisis at its related entity Gensol, sources told Inc42. Eversource has offered to acquire the EV ride-

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The Delhi High Court has ordered seizure and relocation of 129 electric vehicles leased by Gensol Engineering to ride-hailing startup BluSmart, following a petition by lender STCI Finance Ltd. STCI Finance, one of the lenders of the EPC company, fil

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BluSmartโ€™s existing investors, including BP Ventures and ResponsAbility Investments, are reportedly planning to invest $30 Mn (INR 253.64 Cr) in an effort to revive the electric cab-haling startup. The funding will be in the form of unsecured debt a

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The Indian Renewable Energy Development Agency (IREDA) has filed an insolvency petition against BluSmartโ€™s related entity and troubled engineering, procurement and construction (EPC) company Gensol Engineering. In a filing with the exchanges, IREDA

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