South Korea vehicle manufacturer Hundai Motor sold its entire 2.47 percent stake in Ola electric mobility for Rs 552 crore through open market transactions. According to the wholesale deal data available on NSE, Hundai Motor Company sold more than 10.88 crore shares i.e. 2.47 percent stake in Bangalore -based Ola Electric Mobility. The shares were settled on an average at a price of Rs 50.70 per share, making the value of the deal at Rs 551.96 crore.
In a separate transaction, Kia Corporation, the unit of the global Hundai-Kia Automotive Group, also sold more than 2.71 crore shares, which is equivalent to a 0.62 percent stake in Ola electric mobility. Kia Corporation sold the shares on an average at a price of Rs 50.55 per share. This makes the value of the deal at Rs 137.35 crore.
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Meanwhile, Citigroup Global Markets Mauritius bought more than 8.61 crore shares for Rs 435 crore in electric two -wheeler company Ola Electric Mobility, which is equal to 1.95 percent stake.
A shares were purchased at an average price of Rs 50.55 per share. The value of the deal was Rs 435.47 crore. The details of other buyers of Ola Electric Mobility shares on the National Stock Exchange (NSE) could not be ascertained. Ola electric mobility shares fell 7.58 percent to close at Rs 49.61 per share on NSE. Input language edited by: Sudhir Sharma
