🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

Back

Nawal

Entrepreneur | Build... • 4m

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

2 Replies
2
16
Replies (2)

More like this

Recommendations from Medial

Image Description
Image Description

Mahendra Lochhab

Content creator • 5m

D2C Brand P-TAL In Talks To Raise INR 30 Cr Funding

3 Replies
6

Mahendra Lochhab

Content creator • 3m

Boba Bhai’s Revenue Zooms 6X To INR 30 Cr In FY25, Eyes 3X Growth Next Year

Reply
3
Image Description
Image Description

Nawal

Entrepreneur | Build... • 2m

Wait What ?? Thats Smart Move 🔥 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-

See More
3 Replies
1
16
Image Description

Piyu

....... • 2m

👨‍🎓👔CollegeDekho is quietly reshaping student futures. ➡️Helps students choose the right college & career ➡️4M+ guided for free ➡️₹40 Cr debt from recur club + ₹30 Cr equity from lighthouse canton raised this month ➡️225M sessions/year ➡️₹5,000 C

See More
1 Reply
10
Image Description

gray man

I'm just a normal gu... • 1m

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

See More
1 Reply
10

gray man

I'm just a normal gu... • 1m

BluSmart’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

See More
Reply
9

gray man

I'm just a normal gu... • 1m

D2C snacking brand Farmley has secured $40 Mn (around INR 338.8 Cr) in a Series C funding round led by L Catterton, along with participation from existing investor DSG Consumer Partners. The startup plans to use the fresh capital to further scale up

See More
Reply
10
Image Description
Image Description

Harsh Dwivedi

 • 

Medial • 1y

Top News Of the Day: 1. Fintech lending startup, Aye Finance, has raised a debt funding of INR 137 crore (around $16.6 million) from Germany-based Invest in Visions 2. Elevate Foods, a startup focused on supporting Indian farm-gate processors in ac

See More
18 Replies
39

gray man

I'm just a normal gu... • 1m

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

See More
Reply
8

Download the medial app to read full posts, comements and news.