Hyundai Motor said goodbye to Ola Electric, sold entire stake for ₹552 crore

South Korean automobile manufacturing company Hyundai Motor Company on Tuesday sold its entire 2.47 percent stake in Ola Electric Mobility for Rs 552 crore. With this, the company has said goodbye to Ola Electric. According to PTI news, according to bulk deal data available on NSE, Hyundai Motor Company sold more than 10.88 crore shares or 2.47 percent stake in Bengaluru-based Ola Electric Mobility. The shares were settled at an average price of Rs 50.70 per share, making the transaction value Rs 551.96 crore.

How much stake did Kia Corporation also sell?

According to the news, not only this, under another transaction, Kia Corporation, a unit of the global Hyundai-Kia Automotive Group, also sold more than 2.71 crore shares. It had a 0.62 percent stake in Ola Electric Mobility. Kia Corporation sold the shares at an average price of Rs 50.55 per share, making the value of the deal Rs 137.35 crore. Meanwhile, Citigroup Global Markets Mauritius bought more than 8.61 crore shares equivalent to 1.95 percent stake in electric two-wheeler company Ola Electric Mobility for Rs 435 crore. These shares were bought at an average price of Rs 50.55 per share. This made the value of the deal Rs 435.47 crore.

How much has Ola Electric’s share weakened

Information about who are the other buyers of Ola Electric Mobility shares on the National Stock Exchange (NSE) could not be obtained. Ola Electric Mobility’s stock closed 7.58 percent down at Rs 49.61 per share on NSE. Last week, Ola Electric reported a consolidated net loss of Rs 870 crore for the fourth quarter ended March 31, 2025, while also saying it is targeting profitability in the current fiscal year. The company had reported a net loss of Rs 416 crore in the January-March quarter of FY 2023-24.