BluSmart Breaks Down, Groww Eyes $200 Mn & More

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How BluSmart’s Closest Ally Became Its Biggest Risk

When ICRA downgraded Gensol Engineering’s ratings to ‘Junk’ earlier this month, it didn’t just trigger a stock market free fall but also made EV ride-hailing startup BluSmart its collateral damage.

But, What’s The Gensol Connection: BluSmart wasn’t just Gensol’s key leasing customer. Gensol’s promoters – brothers Anmol and Puneet Jaggi as founders — hold significant influence on three subsidiaries running BluSmart’s operations.

So, How Gensol Became BluSmart’s…



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BluSmart Breaks Down, Groww Eyes $200 Mn & More


How BluSmart’s Closest Ally Became Its Biggest Risk

When ICRA downgraded Gensol Engineering’s ratings to ‘Junk’ earlier this month, it didn’t just trigger a stock market free fall but also made EV ride-hailing startup BluSmart its collateral damage.

But, What’s The Gensol Connection: BluSmart wasn’t just Gensol’s key leasing customer. Gensol’s promoters – brothers Anmol and Puneet Jaggi as founders — hold significant influence on three subsidiaries running BluSmart’s operations.

So, How Gensol Became BluSmart’s…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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