Castrol India promoter's parent acquired by Stonepeak's Motion JVCo

Castrol India (NSE: CASTROLIND) said in a filing on 2 Nov 2026 that the sale and purchase agreement between bp and Motion JVCo Limited, part of Stonepeak Infrastructure Fund V, completed on 30 Oct 2026. The Acquirer has indirectly acquired sole control of Castrol Limited, the promoter of Castrol India.

How the sale reached Castrol Limited

The Acquirer has acquired 100% of the equity share capital of Castrol Group Holdings Limited (CGHL), which in turn holds 100% of the equity share capital of Castrol Limited. Immediately before Closing, bp was the ultimate holding company of Castrol Limited.

Castrol Limited holds 50,44,52,416 equity shares of Castrol India, constituting 51.00% of its equity share capital. The Acquirer has indirectly acquired sole control of Castrol Limited, including the right to direct the exercise of voting rights on those shares and sole control over Castrol India.

A share allotment in the Acquirer

At the same time as the CGHL acquisition, the Acquirer allotted equity shares to BP Motion Holdings Limited, an indirect wholly owned subsidiary of bp, constituting 35% of the Acquirer's equity share capital.

This results in BP Motion Holdings Limited holding a non-controlling interest in the Acquirer.

The December 2025 agreement behind the Closing

The sale and purchase agreement is dated 23 Dec 2025. The company's disclosure of 24 Dec 2025 is the one this filing refers back to for further details on the consequence of Closing for the other transaction documents.

What Closing means for Castrol India's shareholders

As the filing describes it, the change is in the indirect ownership and control of the 51.00% holding in Castrol India that sits with Castrol Limited.

Not stated: the consideration paid under the agreement, the effect of Closing on Castrol India's financial results, and any change in its board or management. No next dated step is given.

At a glance