Castrol India shares jump 5% as Stonepeak, Motion JVCo, CPPIB make open offer to buy 26% stake

Castrol India share price

• Castrol India shares rose nearly 5 percent after a 26 percent stake open offer
• Motion JVCo, Stonepeak, and CPP launched the open offer at Rs 194.04 per share
• BP agreed to sell 65 percent of Castrol unit to Stonepeak for about $6 billion

Did our AI summary help?

The shares of Castrol India gained nearly 5 percent on December 26 after Motion JVCo, Stonepeak, and CPP Investment Board launched an open offer to acquire 26% stake in the company.

The shares of the company rose to Rs 198.13 apiece in the morning trading hours of Friday, extending gains for the second consecutive session.

Castrol India open offer:

In an exchange filing released in the post-market hours of December 24, Castrol India announced that Motion JVCo, along with Stonepeak Motion Holdco, Stonepeak Infrastructure Fund V Cayman (AIV I) LP, Stonepeak Infrastructure Fund V (Lux) (AIV I) SCSp and CPP Investment Board Private Holding are making an open offer for the acquisition of up to 25.72 crore shares, representing 26 percent stake in the company at a price of Rs 194.04 per share.

The said price marks a premium of nearly 2.5 percent over the previous closing price of Rs 194.04 apiece.

This comes after BP on Wednesday said that it has agreed to sell a 65 percent stake in its Castrol unit to US investment firm Stonepeak for about $6 billion. The deal values the business at $10.1 billion including debt. BP will retain a minority interest via a joint venture.

The transaction includes minority interests in Castrol, principally in India (49 percent interest), Vietnam (35 percent), Saudi Arabia (50 percent), Thailand (40 percent) and other jurisdictions.

Castrol India share price:

Castrol India shares jumped 7 percent in the past five days, but fell more than 9 percent in the past six months. The stock is down over 4 percent in 2025 so far.

The stock's P/E ratio currently stands at over 19.

Follow all LIVE updates from the stock markets here.