Ola Electric in News as Hyundai and Kia Sell Entire Stake for ₹690 Crore

Ola Electric, the electric scooter company backed by Bhavish Aggarwal, is back in the headlines. This time, it’s because two major car companies — Hyundai and Kia — have sold their entire investment in the company.

They sold their shares through what’s called a block deal worth ₹690 crore. That’s a big number and a big move, so naturally, everyone’s paying attention.

What Just Happened?

On Thursday, Hyundai and Kia sold all their shares in Ola Electric. These were done in bulk, through something called block deals — basically, a large number of shares being sold in one go, usually to one or more big buyers. We don’t yet know who the buyers are, but the shares have changed hands.

Hyundai and Kia had invested in Ola Electric back in 2019. Together, they held around 4.8% of the company. With this deal, they’re now officially out.

Why Is Everyone Talking About This?

This is big news not just because of the amount — ₹690 crore is huge — but also because Ola Electric is getting ready to launch its IPO soon. An IPO (Initial Public Offering) means the company is preparing to list its shares on the stock market and allow the public to invest.

So the big question is: why are Hyundai and Kia exiting right before that?

There’s no official word yet, but a few possibilities are being talked about:

• They may have made a good return and simply wanted to cash out.

• Or, they may now want to focus on their own electric vehicle plans in India, instead of being investors in another EV brand.

• Or it could just be a normal reshuffling of their investments — big companies do that often.

Whatever the reason, the timing has definitely caught people’s attention.

What’s Ola Electric All About?

In case you didn’t know, Ola Electric is the electric vehicle arm of Ola, the ride-hailing company. They launched their first electric scooter in 2021 and quickly became one of the top EV brands in India. You might have seen those Ola scooters zipping around your city — sleek, quiet, and eco-friendly.

They’ve also been working on big ideas like building their own batteries and setting up one of the largest EV factories in the world.

Ola Electric is planning to go public soon, and many investors are excited about its future. This will be one of the first EV startups in India to hit the stock market.

Should We Be Worried?

Not really. Just because Hyundai and Kia have exited doesn’t mean Ola Electric is in trouble. In the startup world, it’s quite normal for early investors to sell their shares after a few years, especially when a company is getting ready to go public.

This also opens the door for new investors to come in. In fact, there are rumors that other big names are interested in buying into Ola Electric ahead of the IPO.

What Happens Next?

Now that Hyundai and Kia have exited, people will be watching to see who the new buyers are. Also, attention will shift back to Ola Electric’s IPO — how much they plan to raise, how the public reacts, and how the stock performs once it lists.

Ola Electric has a lot going on — new products, future expansion, and now, a big IPO. This news about Hyundai and Kia is just one chapter in a much bigger story.

In Simple Words…

Two big car companies, Hyundai and Kia, sold all their shares in Ola Electric for ₹690 crore just before the company’s IPO. We don’t know exactly why, but it doesn’t seem like a panic move. Ola Electric is still going strong and planning for the future. Now, everyone’s waiting to see what’s next.