Blu Smart Mobility Pvt Ltd is a ride-sharing company which provides India’s first all-electronic ride-hailing services. The company is headquartered in Gurugram, Haryana and was founded by three founding members in January 2019. In just a mere span of 4 years, the Blu Smart Mobility share price became a topic of interest among investors. In 2022, the company’s fleet included Tata e-Tigor, Hyundai Kona Electric, Mahindra e-Verito, Tata Xpres-T EV and MG ZS Electric. Blu Smart Mobility Pvt Ltd functions on an asset-light business model where cars are procured on a monthly lease from different companies like EESL (Energy Efficiency Services Limited).
Blu Smart Mobility share price has been compelling investors with its advertisement as the world’s 100% electric mobility solution. The company uses all-electric cars with their branding, and users can book a cab using iOS and Android mobile applications similar to Ola, Uber and Lyft.
Incorporation Details
| CIN | U74999GJ2018PTC104895 |
| Registration Number | 104895 |
| RoC Code | RoC Ahmedabad |
| Founding Year | January 2019 |
| Founders | Anmol Singh Jaggi
Punit K Goyal Puneet Singh Jaggi |
| Category/Sub Category Of Company | Private Limited |
| Class Of Company | Non-Govt Company |
| Company Age | 4 years |
| Industry | Automotive
Electric Vehicles |
| Services | Electric Cabs |
Blu Smart, unlike its competitors, had grown after facing many hindrances since the company operates on a hub-to-hub business model, and the range of anxiety about EVs in the Indian audience poses a serious hurdle to the company’s growth. But besides these hurdles, the Blu Smart Mobility share price shows a stable incline and interest among investors. The company’s co-founder, Puneet Goyal, claimed that Blu Smart is growing 15 to 20% month-on-month, underscoring an increasing demand.
Blu Smart share price can be the cause of making huge returns based on the company’s plans. The company posted a revenue of Rs 29 crore in FY22 against Rs 9 crore in the same period of the corresponding year.
Blu Smart Mobility Shares
Puneet Goyal is confident about turning profitable by the 2023 end and said, “We’ll be the first player to turn profitable as early as the end of the calendar year 2023 because we control every inch of the ride-hailing ecosystem, so wherever money can be squeezed and made, we’re going to do it.” To go full throttle, co-founder Anmol Jaggi said that in July, the company was in the middle of raising $250 million from large global climatic-centric fund houses and other pension funds. So if you want to diversify your investment portfolio, then check Blu Smart share price would be a good choice.
BluSmart Mobility Pvt. Ltd has expanded its business in the market with its USP of zero cancellation policy to compete with other leading companies in India. Over the year, the company has added 500 to 1000 electric cars for monthly operation and installed more than 2000 charging stations. It sets the goal of achieving the benchmark of increased utilization rate to 35% by March 2024.
It has recently raised over $75 million, and it is expected to raise another $ 250 million investment and a $100 million credit line to expand its reach. BluSmart surpassed the mark of generating revenue of Rs. 400 crore every year. BluSmart also reported that over 2.4 million users have downloaded its mobile app. The company has already secured additional investment of $150 million in EV asset leasing, backed by Development Financial Institutions such as PFC and IREDA.
The profitability growth is accelerating, with high figures that push the company valuation to reach $81.1 million by the end of 2023. Also, the Indian market is showing favorable conditions for the e-mobility ecosystem with advanced battery design, electric vehicles, and reduced upfront costs.
With the growing demand and expansion, it is highly expected that BluSmart Mobility Pvt Ltd unlisted shares will scale up in the coming future. Also, the market favors the model of electric vehicles and the fleet of cab aggregators to reduce carbon emissions to the environment. You can explore other details on Stockify.
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* Ratio is calculated based on latest financial & current share price.
(All Amount in INR Millions)
(All Amount in INR Millions)
(All Amount in INR Millions)
