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Entity-Specific Rating Rationales

16 Oct 2025

WheelsEMI Private Limited: Rating reaffirmed, and outlook revised to Negative from Stable; rating withdrawn for Rs. 22.50-crore NCD programme

WheelsEMI Private Limited: Rating reaffirmed, and outlook revised to Negative from Stable; rating withdrawn for Rs. 22.50-crore NCD programme

13 Oct 2025

WheelsEMI Private Limited: Ratings confirmed as final for PTCs backed by vehicle loan receivables issued by Cooper Trust 010

WheelsEMI Private Limited: Ratings confirmed as final for PTCs backed by vehicle loan receivables issued by Cooper Trust 010

23 Sep 2025

WheelsEMI Private Limited: Ratings confirmed as final for PTCs backed by vehicle loan receivables issued by Kepler 05 2025

WheelsEMI Private Limited: Ratings confirmed as final for PTCs backed by vehicle loan receivables issued by Kepler 05 2025

04 Sep 2025

WheelsEMI Private Limited: Provisional ratings assigned to PTCs backed by vehicle loan receivables issued by Arrakis 08 2025

WheelsEMI Private Limited: Provisional ratings assigned to PTCs backed by vehicle loan receivables issued by Arrakis 08 2025

28 Jul 2025

WheelsEMI Private Limited: Provisional ratings assigned to Series A1 PTC and equity tranche PTC backed by vehicle loan receivables issued by Cooper Trust 010

WheelsEMI Private Limited: Provisional ratings assigned to Series A1 PTC and equity tranche PTC backed by vehicle loan receivables issued by Cooper Trust 010

04 Jun 2025

WheelsEMI Private Limited: Provisional ratings assigned to PTCs and equity tranche PTC backed by vehicle loan receivables issued by Kepler 05 2025

WheelsEMI Private Limited: Provisional ratings assigned to PTCs and equity tranche PTC backed by vehicle loan receivables issued by Kepler 05 2025

15 May 2025

WheelsEMI Private Limited: Ratings confirmed as final for PTCs backed by vehicle loan receivables issued by Kalki 2024

WheelsEMI Private Limited: Ratings confirmed as final for PTCs backed by vehicle loan receivables issued by Kalki 2024

24 Feb 2025

WheelsEMI Private Limited: Rating confirmed as final for PTCs issued under a vehicle loan receivables securitisation transaction

WheelsEMI Private Limited: Rating confirmed as final for PTCs issued under a vehicle loan receivables securitisation transaction

07 Feb 2025

WheelsEMI Private Limited: Provisional [ICRA]A-(SO) assigned to Series A1 PTC and Provisional [ICRA]BBB(SO) assigned to Series A2 PTC backed by vehicle loan receivables issued by Kalki 2024

WheelsEMI Private Limited: Provisional [ICRA]A-(SO) assigned to Series A1 PTC and Provisional [ICRA]BBB(SO) assigned to Series A2 PTC backed by vehicle loan receivables issued by Kalki 2024

13 Jan 2025

WheelsEMI Private Limited: Ratings confirmed as final for PTCs issued under a vehicle loan receivables securitisation transaction

WheelsEMI Private Limited: Ratings confirmed as final for PTCs issued under a vehicle loan receivables securitisation transaction


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Entity-Specific Credit Perspective Reports

13 Nov 2025

WheelsEMI Private Limited

WheelsEMI Private Limited (Non-SF)

11 Sep 2025

WheelsEMI Private Limited

WheelsEMI Private Limited (SF)

30 Jul 2025

WheelsEMI Private Limited

WheelsEMI Private Limited (SF)

09 Jun 2025

WheelsEMI Private Limited

WheelsEMI Private Limited (SF)

07 Feb 2025

WheelsEMI Private Limited

WheelsEMI Private Limited (SF)

25 Nov 2024

WheelsEMI Private Limited

WheelsEMI Private Limited (Non-SF)

09 Oct 2024

WheelsEMI Private Limited

WheelsEMI Private Limited (SF)

05 Sep 2024

WheelsEMI Private Limited

WheelsEMI Private Limited (SF)

30 Jul 2024

WheelsEMI Private Limited

WheelsEMI Private Limited (SF)

17 Nov 2023

WheelsEMI Private Limited

WheelsEMI Private Limited (Non-SF)

Ratings

Description
Short Term
Medium Term
Long Term
Issuer
Non Convertible Debenture -- -- [ICRA]BBB(Negative) --
Bank Loans -- -- [ICRA]BBB(Negative) --
Series A1 PTC -- -- [ICRA]A(SO) --
Equity Tranche PTC -- -- [ICRA]BBB+(SO) --
Series A1(a) PTCs -- -- [ICRA]AA-(SO) --
Series A1(b) PTCs -- -- [ICRA]A-(SO) --
Equity Tranche PTC -- -- [ICRA]BBB(SO) --
Series A1(a) PTCs -- -- Provisional [ICRA]A+ (SO) --
Series A1(b) PTCs -- -- Provisional [ICRA]A- (SO) --
Equity Tranche PTC -- -- Provisional [ICRA]BBB (SO) --

Our Analysts

Analyst 1

Arti Verma

Analyst 2

Prateek Mittal

Sector Head

Karthik Srinivasan
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