Hyundai, Kia sell shares worth Rs 690 crore in Ola Electric via block deal

Hyundai Motor and Kia Corporation sold shares worth nearly Rs 690 crore in electric two-wheeler maker Ola Electric through open market transactions on Tuesday, according to NSE bulk deal data.

Hyundai offloaded 108 million shares at Rs 50.70 apiece, amounting to Rs 551.9 crore, while Kia sold 27 million shares at Rs 50.55 each for Rs 137.3 crore.

Citigroup Global Markets Mauritius purchased shares worth Rs 435.4 crore in Ola Electric during the same session.


Ola Electric shares closed 8% lower at Rs 49.33 on the NSE Tuesday.

The Bengaluru-based company’s performance has weakened in the fourth quarter of the last financial year, amid a declining market share, falling stock price and increased regulatory scrutiny.

The company’s net loss widened to Rs 870 crore in the quarter ended March 31 from Rs 416 crore a year earlier. Operating revenue fell nearly 62% to Rs 611 crore, hurt by a significant drop in electric scooter sales.

Earlier this month, Ola Electric’s board approved a proposal to raise up to Rs 1,700 crore through non-convertible debentures and other debt instruments, the company’s first fundraising move since its August 2024 IPO.