BluSmart crisis: Green mobility’s red flag is giving HNIs bond blues

The bondholders’ concerns stem from cash-strapped BluSmart’s failure to raise $50 million in a fresh round and an ongoing probe by markets regulator Sebi into Gensol Engineering—promoted by BluSmart’s cofounder Anmol Singh Jaggi, said people aware of the development. Investors, who trusted the fintech platforms to do a thorough due diligence before syndicating the bonds, have started losing faith.