Blusmart, an Indian ride sharing company is in advanced talks to get acquired by Eversource Capital for ₹850 crore with a non-binding offer by investment firm and expected to take up a final decision within next two weeks.
BluSmart is one of the largest Indian ride sharing companies with a vast network that had also attracted many investors at the time funding, which includes a list of celebrities and high-profile individuals MS Dhoni, Bollywood star Deepika Padukone, Renew Power’s Sumant Sinha, BP Ventures and Panthera, is now in a financial trouble. Rumours say, in India, where the founders of the nurtured company, BluSmart, an EV-driven rival to Uber and Ola, are being investigated for using company funds inappropriately which result in disclosure of information of other companies, which are financially interconnected.
Also reported, that SEBI banned Gensol Engineering which was advocated by Blu-Smart co-founder Anmol Jaggi and Puneet Jaggi.
