India, April 21 -- 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 Technologies, and inject $100 Mn into the combined entity to support its growth.

No Room Of The Jaggi Brothers: While still in the works, Eversource has one condition - BluSmart cofounders, the J...