Castrol India has received a public announcement regarding an open offer from Motion JVCo Limited to acquire up to 26% of its equity shares. The offer, dated December 24, 2025, is for up to 25,71,71,820 shares at a price of ₹194.04 per share. This acquisition is connected to an indirect change in control via an agreement with BP p.l.c. Stonepeak Motion Holdco Limited and other entities are acting in concert with the acquirer.
Acquisition Offer Details
Motion JVCo Limited has announced an open offer to acquire up to 25,71,71,820 equity shares of Castrol India, representing 26.00% of the company’s equity share capital. The announcement was made on December 24, 2025. The offer price is set at ₹194.04 per equity share.
Parties Involved
The acquirer, Motion JVCo Limited, is acting in concert with Stonepeak Motion Holdco Limited, Stonepeak Infrastructure Fund V Cayman (AIV I) LP, Stonepeak Infrastructure Fund V (Lux) (AIV I) SCSp, and CPP Investment Board Private Holdings (6) Inc.
Transaction Background
The open offer is triggered by an agreement where the Acquirer entered into an agreement for sale and purchase with BP p.l.c. , dated December 23, 2025, to acquire 100% of Castrol Group Holdings Limited (CGHL). This results in an indirect acquisition of shares, voting rights, and control over Castrol India.
Impact and Next Steps
This offer is subject to certain approvals and conditions. The Acquirer intends to comply with all applicable regulations and will release a detailed public statement (DPS) with further information. The company has stated this Offer is subject to and contingent upon the completion of the Underlying Transaction.
Source: BSE
