Eversource Capital’s electric bus arm GreenCell Mobility has raised $89 million in mezzanine funding from International Finance Corporation (IFC), British International Investment (BII), and Tata Capital.
Mezzanine financing is a hybrid source of capital that blends debt and equity, ideal for growth and expansion without immediate heavy equity dilution.
The funds will be used to expand the company’s fleet to 3,700 buses, including buses won by the company on intra-city routes across Delhi, Madhya Pradesh, Andhra Pradesh, Bihar, and the Union…

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