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Ola Electric Block Deal: The exit by Hyundai and Kia comes after the company reported weak March-quarter results
Ola S1 Gen 3 scooter portfolio. (Photo: Ola Electric)
Ola Electric Share Price: Shares of Ola Electric Mobility were trading higher by almost a percent on Wednesday after Hyundai Motor and Kia Corporation fully exited their stakes in the company through block deals worth a total of Rs 690 crore, with Citigroup emerging as a key buyer.
According to NSE bulk deal data, Hyundai Motor sold 10.88 crore shares at Rs 50.70 each, totaling Rs 552 crore, while Kia Corporation sold 2.71 crore shares at Rs 50.55 each, amounting to Rs 138 crore. As of March 31, 2025, Hyundai held a 2.47% stake in Ola Electric.
Citigroup Global Markets Mauritius Pvt Ltd acquired over 8.61 crore shares worth Rs 435 crore at Rs 50.55 per share—a 6% discount to Monday’s closing price of Rs 53.69.
The block deals triggered a sharp sell-off in Ola Electric shares on Tuesday, with the stock closing at Rs 49.33, down Rs 4.36 or 8.12%. The stock has been under sustained pressure, losing 46% over the past six months, 11.4% over the past three months, and 4.1% in the last week. Despite this, it has posted a 3.7% gain over the past month.
The exit by Hyundai and Kia comes after the company reported weak March-quarter results. Ola Electric posted a consolidated net loss of Rs 870 crore for the quarter, wider than the Rs 416 crore loss a year ago. Operating revenue fell to Rs 611 crore from Rs 1,598 crore.
For the full year FY25, Ola Electric’s net loss stood at Rs 2,276 crore, compared with Rs 1,584 crore in FY24. Revenue for the year declined to Rs 4,514 crore from Rs 5,010 crore.
Nonetheless, the company remains optimistic about its future. “FY26 will be focused on scaling revenue and operating leverage as the company marches towards sustainable profitability,” Ola Electric said.
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
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