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Nawal

Entrepreneur | Build... • 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. 🔰 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. 🔰 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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