Castrol, a unit of oil major BP Plc, is reportedly planning to sell Castrol India shares worth up to $261 million (about Rs 1,750 crore) through secondary market block trades. Castrol will sell 3.5 crore shares (around 7% of the company) with an option to sell an additional 1.53%. It is likely to sell shares at about Rs 385-415.5 apiece.
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.
