Castrol India open offer: Rs 199.45 a share for 26% stake, NSE filing says
A filing with the National Stock Exchange says Motion JVCo has launched a mandatory open offer for 26% of Castrol India at Rs 199.45 a share, worth up to Rs 5,129.29 crore.
Key points
- Motion JVCo and those acting with it announced a mandatory open offer for up to 26.00% of Castrol India shares, the filing says.
- The cash offer price is Rs 199.45 a share and the maximum consideration is Rs 5,129.29 crore if all shares are tendered.
- The offer follows an indirect change of control completed on 30 October 2026; the filing says there is no intention to delist the company.
Motion JVCo Limited and the entities acting with it have launched a mandatory open offer for up to 25,71,71,820 shares of Castrol India Limited, 26.00% of its equity share capital, at Rs 199.45 a share in cash. According to the detailed public statement the offer manager filed with the National Stock Exchange on 9 November 2026, the maximum consideration is Rs 5,129.29 crore if every share is tendered.
What Happened
The statement is issued by UBS Securities India Private Limited, the manager to the offer, for Motion JVCo Limited (the acquirer) and the entities acting in concert with it, which include Stonepeak entities, CPP Investment Board Private Holdings (6) Inc. and Castrol Limited. It follows a public announcement dated 24 December 2025.
The offer is triggered by an indirect change of control. The filing says the acquirer completed the underlying transaction on 30 October 2026 and now holds all the shares of Castrol Group Holdings Limited, which holds all the shares of Castrol Limited. Castrol Limited is the promoter of Castrol India and holds 50,44,52,416 shares, or 51.00% of the equity share capital. The filing says the transaction involved no direct purchase of Castrol India shares.
The offer price of Rs 199.45 is built up in the filing as an initial price of Rs 194.04, raised by Rs 16.91 a share, and reduced by Rs 11.50 a share as a dividend adjustment. The offer is for 25,71,71,820 shares out of 98,91,22,384 shares. If more shares are tendered than the offer size, they will be accepted in proportion.
The offer is not conditional on any minimum level of acceptance. The filing says no statutory approvals are needed to buy tendered shares, though the offer would be subject to any approval that becomes necessary. It also says the acquirer and those acting with it have no intention to delist Castrol India.
For the year ended 31 December 2025, the filing reports consolidated total income of Rs 5,788.93 crore for Castrol India, against Rs 5,453.46 crore a year earlier, a rise of 6.2%. Profit after tax was Rs 949.93 crore, against Rs 927.23 crore.
What It Means
Shareholders who are not promoters can choose whether to tender their shares at the offer price. Because the offer covers 26.00% of the equity share capital, shares may be accepted only in part if holders tender more than that.
The filing says holders who are not resident in India, including non-resident Indians and foreign portfolio investors, must submit any approvals they obtained earlier for holding the shares, such as one from the RBI, or their shares may be rejected. The tendering period and the process for tendering are set out in the detailed public statement and in the letter of offer that is to be sent to shareholders. Shareholders should read those documents, and Oquilia does not advise whether to tender.
Oquilia Data: Castrol India Ltd. (NSE: CASTROLIND)
| Close, 6 Nov 2026 | Rs 191.30 (−1.50% on the day) |
|---|---|
| Return 1M / 3M / 6M / YTD / 1Y | −4.45% / −1.48% / +2.82% / −0.65% / +0.49% |
| Against Nifty 50, 1M / 3M / YTD | −14.34 / −3.08 / +3.56 points |
| 52-week closing high / low | Rs 201.67 (25 Sep 2026) / Rs 173.52 (30 Mar 2026) |
| Turnover, 20-session average | Rs 67.37 cr; 61.9% delivered; latest volume 2.3x |
Closes adjusted for splits and bonuses; returns exclude dividends. Facts from NSE's files, not investment advice.
Full record: Castrol India share price on Oquilia
Source: Company filing on NSE
Sources & Citations
- Company filing on NSE — National Stock Exchange of India