Hyundai and Kia Exit Ola Electric, Sell Stake Worth ₹690 Crore via Block Deals

3 Jun 2025 , 11:00 PM

Hyundai Motor Company and Kia Corporation have fully exited their investments in Ola Electric Mobility Ltd. through block deals executed on the stock exchanges.

According to NSE bulk deal data, Hyundai sold 10.8 crore shares at a price of ₹50.70 per share, amounting to a total of ₹552 crore. Kia Corporation sold its entire stake of 2.7 crore shares at ₹50.55 per share, bringing in approximately ₹138 crore. The total exit value for both South Korean automakers stands at nearly ₹690 crore.

In a corresponding transaction, Citigroup Global Markets Mauritius purchased 8.61 crore shares at ₹50.55 per share, investing around ₹437 crore in Ola Electric.

As per BSE shareholding data updated till March 2025, Hyundai held a 2.4% public stake in Ola Electric prior to the deal. The exit by Hyundai and Kia marks a strategic shift as the two companies step away from their equity association with one of India’s key electric vehicle (EV) startups.

Ola Electric continues to be a leading player in India’s EV space, and the new investment by Citigroup signals continued institutional interest in the company’s long-term growth potential.

Shares of Ola Electric Mobility Ltd have closed at ₹49.61 which is a 4.07 points dip or 7.58% dip on June 3, 2025. Ola Electric Mobility shares have dipped 45% in the last one year, 42% in the year-to-date, and 0.75% gain in the last one month in the National Stock Exchange.

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