Castrol Plc is reportedly exploring options to delist India arm, Castrol India, by year end. Further, the parent company is in talks to appoint bankers to formulate delisting. Promoter holding in Castrol India currently stands at 71.03% and Castrol PLC will be required to offer at-least 19% stake for delisting its Indian subsidiary. At current market price, Castrol India’s 19% stake is estimated to the worth of Rs 3100 crore.
Castrol India is the second largest player in the Indian lubricant industry and is the market leader in the retail automotive lubricant segment. It manufactures and markets a range of automotive and industrial lubricants.
