EMUDHRA : ICRA ASSIGNS A (STABLE)/A1 RATING TO RS 35 CR FACILITIES

• ICRA reviewed the credit rating of eMudhra's bank facilities after a material event in the global TLS certificate business • Unallocated limits of ₹35 Cr rated [ICRA]A (Stable)/[ICRA]A1 • Total rated bank limits at ₹35 Cr • Rating assigned on October 23, 2026; ICRA letter received by the company the same day Impact: Neutral (rating action follows an operational incident in TLS certificates; source discloses no downgrade)

eMudhra Limited

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