Ola Electric Mobility Limited has announced that ICRA Limited has reviewed the credit ratings for its material wholly owned subsidiaries, Ola Electric Technologies Private Limited (OET) and Ola Cell Technologies Private Limited (OCT). The rating action, effective April 28, 2026, covers various fund-based and non-fund-based credit facilities. These ratings reflect the current assessment of the subsidiaries’ financial instruments as the company continues to scale its operations.
Credit Rating Summary for OET
For Ola Electric Technologies Private Limited (OET), the rating agency has assigned a [ICRA]BBB (Negative) rating to its long-term term loans and interchangeable credit facilities. Additionally, the company’s fund and non-fund-based facilities hold a dual rating of [ICRA]BBB (Negative) and [ICRA]A3+. These ratings are essential indicators of the creditworthiness of the entity’s debt instruments.
Credit Rating Summary for OCT
Ola Cell Technologies Private Limited (OCT), the subsidiary focused on cell technology, has received an [ICRA]BBB- (Negative) rating for its long-term fund-based term loans. For its short-term non-fund based requirements, including letters of credit and credit enhancement facilities, the company has been assigned an [ICRA]A3 rating. These ratings provide transparency regarding the financial risk profile of the subsidiary as it advances its manufacturing and technology initiatives.
Impact and Outlook
The rating actions, which were finalized on April 28, 2026, represent an update on the credit status of Ola Electric’s primary subsidiaries. Investors and stakeholders can review the specific rationales provided by the rating agency through the company’s official communications portal to understand the factors contributing to these outlooks.
Source: BSE
