Ola Electric Mobility Limited has informed the Exchange about revision and/or reaffirmation of credit ratings of Ola Electric Technologies Private Limited and Ola Cell Technologies Private Limited, material wholly owned subsidiaries of the Company.
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Ola Electric's two material wholly owned subsidiaries — Ola Electric Technologies Private Limited (OET) and Ola Cell Technologies Private Limited (OCT) — have had their credit ratings revised and/or reaffirmed by ICRA Limited on April 28, 2026. OET received [ICRA]BBB (Negative) on its long-term term loan and interchangeable LC/BG facilities. OCT received [ICRA]BBB- (Negative) on its long-term fund-based term loan and [ICRA]A3 on short-term non-fund based facilities. The ratings remain at investment grade but carry a Negative outlook, signalling elevated credit risk and potential for future downgrade if conditions do not improve.
The Negative outlook on both subsidiaries' ratings signals deteriorating credit health, which could increase borrowing costs and raise concerns among investors about the parent company's financial stability.