BluSmart investors look to buy Jaggi's stake, take control

Investors in BluSmart are in talks to buy out promoter Anmol Singh Jaggi in a bid to revive the ride-hailing company, two people aware of the development said.

- T. Surendar

MUMBAI: The due diligence and valuation exercises are nearly complete, and some legal hurdles related to the transfer of shares from the Jaggis are being ironed out, the people said.

If the transaction goes through, it would protect investors' money, keep drivers employed, and bring BluSmart's blue-and-white electric cabs back on the streets. It would also mean the complete exit of Jaggis, who founded the company six years ago.