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Hyundai, Kia exit Ola Electric with bumper returns
VCCircle
ยท
2m ago
Medial
Hyundai Motor Company and Kia Corporation, part of the Hyundai Motor Group, exited their investment in Ola Electric with considerable profits. The South Korean automakers sold their entire stake in the Indian electric two-wheeler company. This move marks their strategic decision to capitalize on their investment, highlighting a successful partnership and investment strategy that resulted in significant financial returns.
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Hyundai, Kia sell shares worth Rs 690 crore in Ola Electric via bulk deal
Economic Times
ยท
2m ago
Medial
Hyundai Motor and Kia Corporation sold shares worth approximately Rs 690 crore in Ola Electric through open market transactions. Hyundai sold 10.8 crore shares at Rs 50.7 each, totaling Rs 551.9 crore, and Kia sold 2.7 crore shares at Rs 50.5 each, amounting to Rs 137.3 crore. During the same session, Citigroup, a US investment bank, acquired shares worth Rs 435.4 crore in Ola Electric.
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Bhavish Aggarwal paid $2.3M to top up collateral as Ola Electric shares slid: Report
YourStory
ยท
2m ago
Medial
Ola Electric's founder Bhavish Aggarwal infused $2.3 million to strengthen collateral for borrowings against EV-maker shares. He raised Rs 250 crore for Krutrim AI by pledging Ola Electric equity. Despite a 43% share value drop, the shares remain over twice the loan amount's value. Aggarwal had pledged 8% of his 30% stake. Avendus, InCred, and Modulus lent funds for bonds backed by Ola shares. Recent share transactions involved Hyundai and Kia Corporation.
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Markets rebound as global stocks hit new record highs
Inshorts
ยท
2m ago
Medial
Indian markets closed higher after a three-day decline, tracking global rallies as stocks worldwide touched record highs. The Sensex gained 260 points, while the Nifty rose 77. Meanwhile, the rupee continued to weaken, and Ola Electric saw Hyundai and Kia trim stakes. Global cues remain strong amid trade uncertainty and US tariff deadlines set by President Trump.
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After India's bumper year of deals, investment bankers are reaping a bonanza
Livemint
ยท
1m ago
Medial
Indian investment banks experienced a prosperous year of deal-making, resulting in record bonuses. Top firms like Kotak Mahindra Capital, Axis Capital, Avendus Capital, and JM Financial distributed โน8-9 crore in bonuses to their executives. The surge in mergers, acquisitions, and companies going public, such as Hyundai Motors India, Swiggy, and Ola Electric, contributed to the boom. Significant consolidation across various sectors and private equity investors exiting or selling stakes further fueled this financial windfall.
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PremjiInvest scripting nearly $250 mn exit with bumper returns
VCCircle
ยท
1y ago
Medial
PremjiInvest, the family office of Azim Premji, founder chairman of Wipro, has made a successful partial exit that yielded 10x returns earlier this year. The investment firm has now sold a five-year old private equity-style portfolio bet, aiming for another lucrative return. The amount for the latest exit is estimated to be around $250 million.
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Warburg continues exit spree with bumper returns despite disappointing run of portfolio co
VCCircle
ยท
11m ago
Medial
Warburg Pincus, a private equity firm, has recently sold off another portfolio company in India, marking a quick exit that yielded impressive returns. Despite facing a disappointing run with some of its portfolio companies, Warburg Pincus has been capitalizing on the strong market valuations in India, leading to a successful exit spree over the past two years.
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Leapfrog, Accion set for bumper India BFSI exit; PE firms too eye harvest
VCCircle
ยท
1y ago
Medial
Leapfrog and Accion, global impact investors, are poised for substantial returns from their investment in an Indian financial services portfolio company. Other private equity firms involved are also looking to profit from a reworked exit plan.
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SoftBank to exit Ola Electric in thoughtful, gradual way: Juneja
Inshorts
ยท
8m ago
Medial
SoftBank executive Sumer Juneja said the Japanese investment company will make a "thoughtful and gradual exit" from Bhavish Aggarwal-led Ola Electric. "We are in no hurry to exit," he said. SoftBank had invested โน2,800 crore in the electric bike-maker. As of September 2024, it holds a 17.83% stake in Ola Electric.
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Ares Asia scripting over $250 mn India exit with bumper returns
VCCircle
ยท
11m ago
Medial
Ares Asia, a private equity-style alternative investment firm, is set to earn significant returns from its exit in India, despite the market crash caused by the pandemic. Formerly known as Ares SSG, the company is on track to achieve substantial profitability from its investment made during the pandemic period. Ares Asia was formed after the acquisition of SSG Capital by Ares Management and subsequent rebranding.
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Hyundai Motor's stake in Ola Electric worth $99 million post IPO
Inshorts
ยท
1y ago
Medial
Hyundai Motor Company's 2.95% stake in Ola Electric is worth roughly $99 million after the electric two-wheeler maker launched its IPO on August 2. The value is based on the higher end of the IPO's price band at โน76 per share. The โน6,145-crore IPO was subscribed 35% on Friday, with the retail portion subscribed 1.57 times.
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