Hyundai Motor exits Ola Electric with 552 crore stake sale; Kia also offloads shares
South Korean auto major Hyundai Motor Company has fully exited Ola Electric Mobility, selling its entire 2.47% stake for Rs 552 crore through an open market transaction on Tuesday.
As per bulk deal data on the National Stock Exchange (NSE), Hyundai sold over 10.88 crore shares of Bengaluru-based Ola Electric at an average price of Rs 50.70 per share, valuing the deal at Rs 551.96 crore.
In a separate transaction, Kia Corporation — part of the Hyundai-Kia Automotive Group — also divested more than 2.71 crore shares, equivalent to a 0.62% stake in the electric vehicle maker. The shares were sold at Rs 50.55 apiece, bringing the total transaction value to Rs 137.35 crore, PTI reported.
Meanwhile, Citigroup Global Markets Mauritius emerged as a buyer, picking up over 8.61 crore shares, representing a 1.95% stake in Ola Electric, for Rs 435.47 crore. The shares were acquired at an average price of Rs 50.55 each.
Details regarding other buyers were not disclosed in NSE data.
Following the transactions, Ola Electric's stock fell 7.58% to close at Rs 49.61 per share on the NSE.
The stake sale comes shortly after Ola Electric reported a consolidated net loss of Rs 870 crore for the quarter ended March 31, 2025, widening from Rs 416 crore a year earlier.
The company has announced plans to achieve profitability in the current fiscal.
Operational revenue for Q4 dropped to Rs 611 crore from Rs 1,598 crore in the same quarter last year. For the full FY25, Ola Electric reported a net loss of Rs 2,276 crore versus Rs 1,584 crore in FY24. Annual revenue also dipped to Rs 4,514 crore from Rs 5,010 crore a year earlier.
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