Hyundai Motor, Kia Sell Over 3% Stake In Ola Electric; Citigroup Buys Nearly 2%

Ola Electric Mobility Ltd.’s promoters Hyundai Motor Co. and Kia Corp. sold a combined stake of over 3% in the company on Tuesday through a bulk deal on the National Stock Exchange, according to exchange data.

Hyundai Motor offloaded 108.87 million shares, equivalent to a 2.5% stake, at ₹50.70 per share, raising ₹5.52 billion. As of 31 March, Hyundai held a 2.47% stake in the company. Kia Corp. sold 27.17 million shares, or 0.6% stake, at ₹50.55 per share, totalling ₹1.37 billion.

Citigroup Global Markets Mauritius acquired 86.15 million shares, nearly 2% stake, at ₹50.55 per share.