BluSmart Stares At A Fire Sale
Climate-focussed PE firm Eversource Capital is in advanced talks to acquire the troubled EV ride-hailing startup BluSmart for INR 800-1,000 Cr ($90-120 Mn) — a 60% discount from its last known valuation of $300 Mn.
What’s On The Cards? Along with acquiring BluSmart, Eversource Capital plans to clear all its liabilities, including pending employee salaries — of course, if the deal goes through.
The private equity firm plans to merge BluSmart with its existing EV portfolio company, Lithium Urban…