Castrol India Shares Soar 5% on Stonepeak, Motion JVCo, CPPIB Open Offer for 26% Stake

• Castrol India shares surged nearly 5% after an open offer was launched to acquire a 26% stake in the company.
• Motion JVCo, Stonepeak, and CPP Investment Board made the open offer for 25.72 crore shares.
• The offer price is Rs 194.04 per share, a 2.5% premium over the previous closing price.
• This follows BP's agreement to sell a 65% stake in its Castrol unit to Stonepeak for $6 billion.
• BP will retain a 49% minority interest in Castrol India through a joint venture.

Why It Matters: Castrol India shares jumped as Stonepeak-led consortium made an open offer for a 26% stake.