Stonepeak's Open Offer Boosts Castrol India Shares by 4%

• Stonepeak, Motion JVCo, and CPP Investment Board launched an open offer to acquire a 26% stake in Castrol India.
• The consortium offers ₹194 per share for 25.71 crore shares, a 2% premium over Wednesday's closing price.
• Castrol India shares surged nearly 4% on Friday following the announcement.
• This follows BP's agreement to sell a 65% stake in the parent company Castrol to Stonepeak for $10 billion.
• BP will use the $6 billion net proceeds from the sale to reduce its net debt.

Why It Matters: Stonepeak's open offer for Castrol India's 26% stake led to a significant share price surge.