Castrol India Jumps 5% on Stonepeak's 26% Stake Open Offer After BP Deal

• Castrol India shares surged 5% after promoter BP agreed to sell its 65% stake to Stonepeak, Motion JVCo, and CPP Investment Board.
• A consortium led by Stonepeak launched an open offer to acquire an additional 26% stake in Castrol India.
• The open offer price is ₹194.04 per share, representing a 2.5% premium over the previous closing price.
• The BP-Stonepeak deal values Castrol India at an enterprise value of $10.1 billion.
• BP will retain a minority stake in Castrol through a joint venture, including its 49% stake in India.

Why It Matters: Castrol India shares rallied on news of BP's stake sale and a subsequent open offer for 26% by Stonepeak-led consortium.