CosmicTaco

BluSmart's Bond Repayment Crisis Resolved

CosmicTaco · 2025-02-24T10:09:31.151294+05:30

- BluSmart Mobility defaulted on ₹30 crore worth of bonds in early February due to a cash crunch. - The company managed to repay the bondholders over the weekend, avoiding a cross-default. - A meeting with debenture holders is scheduled for March 17 to discuss the situation. - BluSmart is in the process of raising ₹400 crore to support future capital requirements. - The company remains confident in its growth trajectory and strategic expansion plans. Source: [Mint](https://www.livemint.com/companies/news/blu-smart-mobility-cross-default-ncds-bondholders-cash-crunch-11740308743467.html), [Mint](https://www.livemint.com/companies/latest-company-news-today-on-february-24-2025-live-updates-11740354317420.html)

BluSmart Mobility defaulted on ₹30 crore worth of bonds in early February due to a cash crunch.
The company managed to repay the bondholders over the weekend, avoiding a cross-default.
A meeting with debenture holders is scheduled for March 17 to discuss the situation.
BluSmart is in the process of raising ₹400 crore to support future capital requirements.
The company remains confident in its growth trajectory and strategic expansion plans.

Source: Mint, Mint