Ola Electric Held Talks on Potential High-Yield Debt Financing

Ola Electric Mobility Ltd, an Indian electric vehicle maker whose shares have fallen about 50% this year, recently held talks with lenders to explore raising money through high-yield debt, according to people familiar with the matter.

The company was seeking about 10 billion rupees ($116 million), primarily for working capital, said the people, who asked not to be identified because the discussions are private. The talks were preliminary and it’s not clear if Ola or the lenders would choose to proceed further, the people said.