Gensol Engineering is selling its US unit Scorpius Trackers, while Zomato has invested Rs 1,500 crore in Blinkit.
Gensol Engineering to sell US unit
Gensol Engineering, a renewable energy and electric mobility services provider, is selling its US unit Scorpius Trackers to a major renewable energy solutions provider in the US for Rs 350 crore.
The deal includes the transfer of exclusive and global Intellectual Property (IP) rights (except India) for Scorpius Trackers’s advanced solar tracking technology.
The deal will be completed in two tranches, with full closure expected by March 2026, subject to due diligence, customary approvals, and closing conditions.
The proceeds from the transaction will be strategically redeployed to expand Scorpius Trackers’s operations in India, fuel solar EPC business growth, and support Gensol’s broader clean energy initiatives, the firm said in a statement.
Zomato invests $178m in Blinkit
Zomato said it has invested Rs 1,500 crore ($178 million) in its quick commerce vertical Blinkit, coming months after Zomato raised Rs 8,500 crore through a qualified institutional placement (QIP).
Over the past year, Blinkit, Instamart, and Zepto have collectively raised billions from marquee investors, fuelling an intense battle for dominance. Each player is deploying capital aggressively to expand its footprint and gain an edge in a market where profitability remains elusive.
Zomato aims to have 2,000 Blinkit stores by December 2025, a year ahead of the earlier guidance, it indicated in January.
