According to NSE bulk deal data, Hyundai sold 10.8 crore shares at ₹50.70 apiece, amounting to ₹552 crore, while Kia offloaded 2.7 crore shares at ₹50.55 each, totalling ₹138 crore.
In a parallel move, Citigroup Global Markets Mauritius acquired 8.61 crore shares at ₹50.55 per share, translating to a ₹437 crore investment in Ola Electric.
As per BSE shareholding data updated till March 2025, Hyundai held a 2.4% public stake in the company. The exit signals a strategic shift as both Korean carmakers part ways with one of India’s leading EV players.
Shares of Ola Electric closed 8.12% lower at ₹49.33 on the BSE on Tuesday, underperforming the Nifty, which fell 0.7%.
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Ola Electric reported a wider net loss of ₹870 crore in the fourth quarter of FY25, nearly doubling from ₹416 crore in the same period last year, as steep discounts and declining sales weighed on performance.
Revenue from operations fell sharply by 62% year-on-year to ₹611 crore in Q4 FY25, down from ₹1,598 crore in the corresponding quarter of FY24. Vehicle registrations during the quarter dropped over 52% to 56,760 units, while deliveries nearly halved to 51,375 units.
Despite the weak quarter, the company’s management has said it is targeting profitability in the current financial year, along with a focus on improving margins.
