Friday, December 26
Shares of Castrol India climbed over 3% in Friday’s trading sessionrising to around Rs 195after the announcement of an open offer for the acquisition of a 26% stake in the company at Rs 194.04 per sharemarking a positive trigger for the stock.
Motion JVCo, along with Stonepeak and the Canada Pension Plan Investment Board (CPP Investment Board)has launched an open offer to acquire 26% equity stake in Castrol India. The consortium plans to purchase 25.71 crore shares at Rs 194 per sharerepresenting a 2% premium to Castrol India’s previous closing price.
The open offer follows British Petroleum’s agreement to sell a 65% stake in Castrol to Stonepeak at an enterprise value of $10 billion. Post-transaction, Stonepeak will acquire a controlling interest, while BP will retain a 35% stake in the business. The deal also covers minority interests across markets including India, Vietnam, Saudi Arabia, Thailandand others. BP has stated that the proceeds will be used to reduce its net debtwhich stood at $26.1 billion at the end of Q3 2025with a target range of $14–18 billion by 2027.
As of end-September 2025, Castrol Plc held a 51% stake in Castrol India, while LIC owned 10%the Singapore government held 1.33%and over five lakh retail shareholders collectively owned 16.6%. Despite today’s rally, Castrol India shares are down 7.1% year-to-date.
Separately, Kotak Institutional Equities has maintained an “Add” rating on Castrol India with a target price of Rs 210 per shareadding to positive sentiment around the stock.
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