Gensol engineering does not have any equity in BlueSmart, although BlueSmart is also promoted by the Same promoter group (Anmol Jaggi and few investors).
The only way Gensol group can gain from rising growth of BlueSmart is via their car leasing business wherein there may procure cars on their books via PFC funding which they recently secured and give out cars on lease to BluSmart as an arms length transaction.
A little far fetched gain could be induction of their manufactured EV cars into BlueSmart fleet. (this is a utopian scenario, given their EV manufacturing segment has a few important hurdles to cross in terms of product market fit).
It’s important to note that Gensol group is foraying into multiple businesses all of which are sunrise / disruptive sectors :
a) Gensol Engineering : Solar EPC, Car Leasing, EV manufacturing, Solar Panel maintenance and tracking, etc.
b) Blue Smart : Ride hailing (VC funded, not listed yet)
c) Matrix Gas – Green Hydrogen, etc. (not listed, DRHP filed, soon to be listed)
Invested. No Reco. Pls do your own due diligence.
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