South Korean automaker Hyundai Motor Company on Tuesday exited Ola Electric Mobility by selling its entire 2.47 per cent stake in the company for Rs 552 crore through an open market transaction.
Photograph: Andrew Boyers/Reuters
According to the bulk deal data available on the NSE, Hyundai Motor Company sold more than 10.88 crore shares or 2.47 per cent stake in Bengaluru-based Ola Electric Mobility.
The shares were disposed of at an average price of Rs 50.70 apiece, taking the transaction value to Rs 551.96 crore.
In a separate transaction, Kia Corporation, a part of global Hyundai-Kia Automotive Group, also offloaded over 2.71 crore shares, representing a 0.62 per cent stake in Ola Electric Mobility.
The shares were sold by Kia Corporation at an average price of Rs 50.55 per piece, taking the deal value to Rs 137.35 crore.
Meanwhile, Citigroup Global Markets Mauritius purchased over 8.61 crore shares, amounting to a 1.95 per cent stake in electric two-wheeler company Ola Electric Mobility for Rs 435 crore.
The shares were acquired at an average price of Rs 50.55 apiece. This took the deal value to Rs 435.47 crore.
Details of the other buyers of Ola Electric Mobility’s shares could not be ascertained on the National Stock Exchange (NSE).
The scrip of Ola Electric Mobility declined 7.58 per cent to close at Rs 49.61 apiece on the NSE.
Last week, Ola Electric reported a consolidated net loss of Rs 870 crore for the fourth quarter ended March 31, 2025, while noting that it is targeting profitability in the current fiscal.
The company had reported a net loss of Rs 416 crore in the January-March quarter of the
The revenue from operations declined to Rs 611 crore compared to Rs 1,598 crore in the year-ago period, the company said.
For FY25, the company reported a net loss of Rs 2,276 crore against Rs 1,584 crore in the 2023-24 fiscal.
Its revenue from operations declined to Rs 4,514 crore against Rs 5,010 crore in FY24, it added.
