New Delhi: Castrol India on Thursday distanced itself from ongoing global negotiations involving its parent company, British Petroleum (BP). Responding to a clarification sought by the National Stock Exchange (NSE) and BSE Limited, the lubricants major stated that it has no role in the discussions between the parties mentioned in recent media reports.
Market speculation intensified following reports that global investment firm Stonepeak reached a deal to acquire a 65% stake in the global Castrol business from BP for approximately $10.1 billion.
The Query: The exchanges sought confirmation on whether such negotiations were taking place and if there was any unannounced information causing volume movement in the stock.
The Response: “Castrol India Limited is not a party to and is not involved in any negotiations or discussions between the parties mentioned in the referred news article or otherwise,” the company stated in its regulatory filing.
Previous Disclosures: The company pointed to its announcement on December 24, 2025, which was made in compliance with SEBI’s Listing Obligations and Disclosure Requirements (LODR).
Despite the company’s non-involvement in the parent-level deal, the global transaction has significant local implications. Motion JVCo, along with Stonepeak and CPPIB, has already launched a mandatory open offer to acquire an additional 26% stake in Castrol India at ₹194.04 per share.
Shares of Castrol India have witnessed volatility amidst the news. The stock, which jumped nearly 9% in late December when the deal was first reported, was trading at ₹188.72 on Thursday, down 0.74% from the previous close.
The corporate maneuvering comes as Castrol India undergoes a leadership change. On January 1, 2026, Saugata Basuray took over as the Interim CEO, following the exit of the previous management. The company is also scheduled to hold a board meeting on February 3, 2026, to approve the full-year financial results and consider a dividend for FY 2025.