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Blu Smart Mobility Unlisted Shares
DRHP Status : Not Filed
0.01
Fundamentals About Blu Smart Mobility
Downloads & Investor Documents
All documents are provided for informational purposes and are subject to regulatory disclosures.
Key Financials of Blu Smart Mobility
| P&L Statement | 2022 | 2023 |
|---|---|---|
| Revenue | 4 | 57 |
| Cost of Material Consumed | 18 | 68 |
| Gross Margins | -350 | -19.3 |
| Change in Inventory | 0 | 0 |
| Employee Benefit Expenses | 15 | 40 |
| Other Expenses | 10 | 18 |
| EBITDA | -39 | -69 |
| OPM | -975 | -121.05 |
| Other Income | 4 | 14 |
| Finance Cost | 43 | 59 |
| D&A | 23 | 102 |
| EBIT | -62 | -171 |
| EBIT Margins | -1550 | -300 |
| PBT | -100 | -216 |
| PBT Margins | -2500 | -378.95 |
| Tax | 0 | 0 |
| PAT | -100 | -216 |
| NPM | -2500 | -378.95 |
| EPS | -467.29 | -1009.35 |
Financial Ratios |
2022 | 2023 |
|---|---|---|
| Operating Profit Margin | -975 | -121.05 |
| Net Profit Margin | -2500 | -378.95 |
| Earning Per Share (Diluted) | -467.29 | -1009.35 |
| Assets | 2022 | 2023 |
|---|---|---|
| Fixed Assets | 5 | 22 |
| CWIP | 0 | 0.32 |
| Investments | 0 | 0 |
| Trade Receivables | 0.06 | 0.35 |
| Inventory | 0 | 0 |
| Other Assets | 398.94 | 1291.33 |
| Total Assets | 404 | 1314 |
| Liabilities | 2022 | 2023 |
|---|---|---|
| Share Capital | 2.14 | 2.14 |
| FV | 10 | 10 |
| Reserves | -49 | -253 |
| Borrowings | 269 | 797 |
| Trade Payables | 2.5 | 12 |
| Other Liabilities | 179.36 | 755.86 |
| Total Liabilities | 404 | 1314 |
About Company
BluSmart is India's first and largest zero-emission ride-hailing service and platform with a mission to build mobility smarter, safer, cleaner and more sustainable for a better future.
The following table shows a 10-point analysis of BluSmart Mobility (Blu-Smart Mobility Private Limited / related entities). We will discuss each point in detail after this table.
| Parameter | Key Numbers | Insights |
|---|---|---|
| Business Overview | FY25 Revenue est. ₹300–500 cr · H1 FY25 GMV ~₹275 cr · PAT negative | Pioneering all-EV ride-hailing platform (Delhi-NCR focus, expanding); owned/leased fleet model positioned as premium sustainable alternative; severely impacted in 2025 by operational halt and governance crisis linked to promoter group. |
| Industry & Market Position | All-EV fleet ~7,000–8,000 vehicles (pre-crisis) | Niche EV mobility brand benefiting from green policy tailwinds; faced intense competition from large ride-hailing platforms; execution risks amplified significantly post-crisis. |
| Revenue Growth Trend | Pre-crisis GMV +77% YoY (H1 FY25) · Monthly revenue scaled from ~₹4 cr (2022) to ~₹55 cr (Oct 2024) | Explosive scaling phase driven by fleet expansion and premium EV demand; post-2025 crisis, operations stalled leading to negative trajectory. |
| Profitability & Margins | EBITDA negative · ROE negative · PAT margin negative | High cash burn typical of asset-heavy EV mobility model; targeted EBITDA breakeven by 2026 pre-crisis; derailed by governance and debt stress. |
| Cash Flow Quality | OCF negative · Debt repayments strained (~₹30 cr repaid post-crisis scare) | Capital-intensive fleet and charging infrastructure model; liquidity crunch led to bond defaults and moratorium; weak earnings quality amid irregularities. |
| Balance Sheet Strength | Net debt ~₹280 cr (pre-crisis) · Insolvency admitted Oct 2025 | Severely weakened by promoter-linked governance lapses; high leverage and default risk; currently under insolvency resolution with limited downside protection. |
| Valuation Comfort | Unlisted price volatile ₹1,300–2,725 (Feb 2026 range; earlier highs ₹4,800+) | Sharp de-rating from prior peak valuations; pricing reflects distress and insolvency risk; highly speculative with no valuation comfort. |
| Management & Governance | Founder-led (Jaggi brothers) · Regulatory scrutiny | Governance breakdown central to downturn; allegations of fund misuse and bond defaults; regulatory overhang and trust erosion significant. |
| Growth Triggers & Catalysts | Potential investor infusion (~$30M proposed) · Possible acquisition interest · IBC resolution process | Future dependent on insolvency resolution, fresh funding, or strategic acquisition; EV sector tailwinds remain but execution and survival uncertain. |
| Liquidity & Exit Visibility | OTC liquidity evaporated · Under CIRP moratorium | Severe liquidity constraints; capital locked during insolvency proceedings; exit highly uncertain and contingent on resolution outcome. |
BluSmart is rebuilding mobility for:
- Better customer experience (zero ride denials, zero surge pricing, high-quality service, highest standards of safety and sanitisation)
- Improving the quality of lives of the driver partners (flexible work hours, higher earnings and no stress of asset ownership)
- Revitalising the air quality in megacities of India (full-stack zero-emission ride-hailing service)
Responsible mobility:
- Impact: Most preferred ride-hailing service in Delhi NCR. BluSmart is building mobility smarter, cleaner, safer and more sustainable for a better future. The World Business Council for Sustainable Development (WBCSD) published a Case Study on BluSmart's role in addressing the problems of climate change and BluSmart becoming the most preferred mode of transportation for urban commuting
- Innovation: Patent application filed on "Systems and methods for allocating vehicles to ride requests"
- Service: India's first customer-centric full-stack ride-hailing service offering "Zero Ride Denials, Zero Surge Pricing and Zero Emission Mobility"
- EV Ecosystem: BluSmart has the largest all-electric ride-hailing fleet and the largest network of fast charging stations in Delhi NCR
- Market Opportunity: Ride-hailing market size will grow from the current USD 20 billion to $90bln by 2030 across mega megacities of India
- Highest Standards of Safety and Cleanliness: BluSmart electric cars have driver cockpits installed for contactless rides, customers can see the body temperature of the BluSmart driver, customers can preorder a face mask while booking their BluSmart service, customers can see the last time of car sanisation on the BluSmart app, BluSmart electric cars are sanitised after every single ride.
- Tailwinds: Lower Total Cost of Ownership (TCO advantage of EVs over ICE), falling battery costs, increasing vehicle range on a single charge, EV-focused policy support from State and Central Govt.
Click here to visit the official website of Blu Smart Mobility.
Shareholding Pattern of Blu Smart Mobility
| Name | Holding |
|---|---|
| Puneet Singh Jaggi | 16.64% |
| Punit Goyal | 9.08% |
| Anmol Singh Jaggi | 17.39% |
| Others | 56.87% |
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Frequently Asked Questions
Blu Smart Mobility unlisted shares are equity shares of BluSmart, an electric mobility and ride-hailing company that is not listed on NSE or BSE. These shares are available for investment through private platforms like UnlistedKraft.
Yes. You can buy Blu Smart Mobility unlisted shares through UnlistedKraft. Just complete your KYC, place the order, and the shares will be transwerferred to your demat account within 24 hours.
Unlisted shares carry some risks, including lower liquidity and limited public data. However, BluSmart is a fast-growing EV-focused company with strong investor interest, and UnlistedKraft ensures safe, verified transweractions.
Pricing is based on recent private deals, funding rounds, demand-supply trends, and the company’s financial health. UnlistedKraft ensures fair and transwerparent pricing for every investor.
Yes, you need an active demat account to hold Blu Smart Mobility unlisted shares.
There is no fixed holding period unless the company lists. Many investors hold shares until an IPO or major funding round to benefit from long-term value appreciation.
Yes. You can sell your Blu Smart shares before the IPO through UnlistedKraft’s resale support, depending on buyer interest and liquidity.
Yes. If BluSmart lists on a stock exchange, SEBI mandates a six-month lock-in period for all pre-IPO investors.
If held for more than two years, long-term capital gains tax of 20 percent with indexation applies. If sold before two years, the gains are taxed as short-term under your income tax slab.
UnlistedKraft offers verified access to high-growth companies like BluSmart, with transwerparent pricing, expert guidance, and fast processing. It is a reliable platform for investing in future-ready businesses in the EV and mobility space.
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