Ola Electric in spotlight as Hyundai & Kia exit with ₹690 Cr — 2 firms, 1 move, ₹690 Cr shift
Hyundai & Kia exit Ola Electric via ₹690 Cr block deals; Citigroup steps in. Stock sinks 8% amid weak Q4, rising losses, despite Ola’s FY26 profit hopes.
Hyundai sold 10.8 crore shares for Rs 552 crore, while Kia offloaded 2.7 crore shares amounting to Rs 138 crore.
Shares of Ola Electric Mobility are set to be in focus on Wednesday after Hyundai Motor and Kia Corporation fully exited their stakes in the EV maker via block deals worth a combined Rs 690 crore, with Citigroup emerging as a key buyer.
Hyundai Motor and Kia Corporation have divested their holdings in Ola Electric Mobility, selling shares worth Rs 690 crore in a significant block deal. This strategic exit marks a noteworthy shift for the electric vehicle sector in India. Hyundai sold 10.8 crore shares for Rs 552 crore, while Kia offloaded 2.7 crore shares, amounting to Rs 138 crore. In contrast, Citigroup Global Markets Mauritius acquired 8.61 crore shares at Rs 50.55 per share, investing Rs 437 crore in the company.
The share sale comes as the Bhavish Aggarwal-led firm faces multiple crises, marred by operational delays, weak demand and rising competition. Ola’s shares slumped 8.1% on Tuesday, the most in seven months. This pushed this year’s plunge to 42%, after a blockbuster listing in August.
Ola has also been under increased scrutiny over its method of counting vehicle bookings as well as seen raids and vehicle seizures by local transport officials for lapses in regulatory compliances. The scrip of Ola Electric Mobility declined 7.58 per cent to close at ₹49.61 apiece on the NSE.
Ola Electric Mobility has set its eyes on achieving profitability by the financial year 2026. According to the company, “FY26 will be focused on scaling revenue and operating leverage as the company marches towards sustainable profitability.The firm has made strides in improving its financial metrics, with gross margins increasing by 38% in FY25
“Investments in the securities market are subject to market risks.”
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