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Hyundai and Kia Exit Ola Electric in Rs 690 Crore Block Deals, Shares Plunge

Investor exits highlight mounting doubts over Ola Electric’s ability to reverse its financial decline.

Ola Electric shares tumble 7%; should investors consider exiting?
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The Ola company logo is seen on one of its electric scooters, ahead of the company's IPO launch in Mumbai, India, July 29, 2024. REUTERS/Francis Mascarenhas/File Photo

Overview

  • Ola Electric saw South Korean automakers sell a combined 3.09% stake through open market transactions worth about Rs 690 crore between June 3–4, with Hyundai offloading 2.47% for Rs 552 crore and Kia trimming 0.62% for Rs 138 crore.
  • Citigroup Global Markets Mauritius emerged as a key buyer, acquiring roughly 1.95% of Ola Electric for approximately Rs 435 crore at an average price of Rs 50.55 per share.
  • The shares tumbled as much as 8.12% to close at Rs 49.33, trading at a nearly 6% discount to Monday’s closing price and down over 34% since the August 2024 listing.
  • Ola Electric’s FY25 performance revealed a consolidated net loss of Rs 2,276 crore—up from Rs 1,584 crore a year prior—and Q4 net loss widened to Rs 870 crore on a 59.5% year-on-year revenue slump to Rs 611 crore.
  • Market share has plunged from 49.2% in May 2024 to 20% in May 2025 as the company pushes for cost reductions and gross-margin gains to target profitability in FY26.