ICRA Revises and Reaffirms Credit Ratings for Ola Electric Subsidiaries
Ola Electric Mobility Ltd confirmed that ICRA Limited has revised and/or reaffirmed the credit ratings assigned to its wholly owned subsidiaries, Ola Electric Technologies Private Limited (OET) and Ola Cell Technologies Private Limited (OCT). The ratings action was announced on April 28, 2026.ICRA Limited reviewed the credit ratings for both entities, detailing the status for various instruments and facilities.
Ratings for Ola Electric Technologies Private Limited
The rating action for OET included facility types ranging from long-term loans to short-term fund-based facilities.| Facility / Instrument | Rating Action |
|---|---|
| Long-Term-Term Loan | [ICRA]BBB (Negative) |
| Long-Term interchangeable-Letter of Credit/Bank Guarantee | [ICRA]BBB (Negative) |
| LT/ST Fund Based/Non-Fund based facilities | [ICRA]BBB (Negative)/ [ICRA]A3+ |
Ratings for Ola Cell Technologies Private Limited
For OCT, the updated ratings covered both long-term and short-term fund-based and non-fund-based facilities.| Facility / Instrument | Rating Action |
|---|---|
| Long-term-Fund-based-Term loan | [ICRA]BBB- (Negative) |
| Short-term-Non-fund based-CEL (sub-limit) | [ICRA]A3 |
| Short-term-Non-fund based-Letter of Credit (sub-limit) | [ICRA]A3 |
OLAELEC Stock Price Movement
On Tuesday, Ola Electric Mobility Limited shares slipped by 2.65% to settle at ₹35.81. The stock saw significant trading activity, with a total volume of 55.89 million shares recorded, finishing closer to its day's low of ₹35.70.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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