BP Sells 65% Castrol India Stake to Stonepeak; Shares Soar 9%

• BP agrees to sell its 65% majority stake in Castrol India to private equity firm Stonepeak.
• The deal is valued at an enterprise value of approximately $1000 crore, generating $600 crore net income for BP.
• Castrol India shares surged 9% intraday following the announcement, closing up 1.99% at ₹189.60.
• BP aims to use the proceeds to reduce net debt, strengthen its balance sheet, and simplify its portfolio.
• The sale, subject to regulatory approvals, is expected to finalize by the end of 2026.

Why It Matters: BP's strategic sale of its Castrol India stake boosts shares and strengthens BP's financial position.