Refex Green Mobility drops plans with Gensol to take over BluSmart cabs

Quick Summary:

The move by the company adds to the continuous stream of unfortunate developments at Gensol Engineering, which is facing a liquidity crunch.

To fill this gap, the company’s board approved a Rs 600 crore fundraising initiative on March 13.

According to an NSE filing, the plan was dropped due to "evolving commitments at both ends, which would make it challenging to conclude the transaction within the originally envisaged timeline".

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Article Details

Author / Journalist: Sai Keerthi

Category: StartupsEconomyBusiness

Markets: India

Topics: Green Mobility Refex Gensol Policy Privacy Vehicles Blusmart Anmol Company Crore

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-28 @ 11:24:47 (3 days ago)

News Timezone: GMT +8:00

News Source URL: yourstory.com

Language: English

Article Length: 265 words

Reading Time: 2 minutes read

Sentences: 20 lines

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News ID: 27383174

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