Eversource makes Rs 1,200 crore offer for BluSmart, but deal clouded by Gensol probe

Eversource Capital has made a Rs 1,200 crore non-binding offer for troubled ride-hailing service BluSmart, said people aware of the matter. However, Eversource, a leading climate investor, may not pursue a deal due to ongoing regulatory probes at sister concern Gensol Engineering from whom BluSmart leases the bulk of its electric vehicle fleet, the people said.

Instead, Eversource may consider other options for acquiring BluSmart such as holding direct negotiations with Gensol’s lenders like Power Finance Corp (PFC) and Indian Renewable Energy…