BluSmart crisis: Green mobility’s red flag is giving HNIs bond blues

April 19, 2025

, By The Economic Times

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Over the past year, multiple new-age fintech platforms facilitated the sale of nearly Rs 100 crore worth of BluSmart Mobility bonds to retail investors and high net-worth individuals (HNIs), who are now facing repayment uncertainty as the electric cab-hailing platform’s operations have come to a standstill.

The bondholders’ concerns stem from cash-strapped BluSmart’s failure to raise $50 million in a fresh round and an ongoing probe by markets regulator Sebi into Gensol Engineering—promoted by BluSmart’s cofounder Anmol Singh Jaggi, said…

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BluSmart crisis: Green mobility’s red flag is giving HNIs bond blues

April 19, 2025

, Published By The Economic Times

Over the past year, multiple new-age fintech platforms facilitated the sale of nearly Rs 100 crore worth of BluSmart Mobility bonds to retail investors and high net-worth individuals (HNIs), who are now facing repayment uncertainty as the electric cab-hailing platform’s operations have come to a standstill.

The bondholders’ concerns stem from cash-strapped BluSmart’s failure to raise $50 million in a fresh round and an ongoing probe by markets regulator Sebi into Gensol Engineering—promoted by BluSmart’s cofounder Anmol Singh Jaggi, said…

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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Previous News

How to bring back the Save button on the Instagram camera

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India finalises electronics components scheme as it eyes major export growth

The Economic Times

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