Hyundai, Kia sell Ola Electric shares: Hyundai Motor Company and Kia Corporation have completely exited their investment in Bhavish Aggarwal’s Ola Electric Mobility. South Korean automotive giants jointly sold their entire stake worth approximately Rs 690 crore through a block deal.
According to bulk deal data from the National Stock Exchange (NSE):
- Hyundai sold 10.88 crore shares at Rs 50.70 per share, raising Rs 552 crore. As of 31st March 2025, Hyundai held a 2.47 per cent stake in Ola Electric.
- Kia offloaded 2.71 crore shares at Rs 50.55 per share, earning around Rs 138 crore.
Citigroup emerges as major buyer
Citigroup Global Markets Mauritius Pvt Ltd emerged as the largest buyer in the transaction. It acquires 8.61 crore shares worth Rs 435 crore. The shares were sold at a 6 per cent discount compared to Ola Electric’s closing price of Rs 53.69 on Monday.
It should be noted that the identities of other buyers involved in the deal have not been disclosed publicly.
