Gulf Oil International Reduces Stake in India Subsidiary

On September 30, 2024, Gulf Oil Lubricants India Ltd announced via a stock exchange filing that Gulf Oil International (Mauritius) Inc. sold 2.2 million equity shares, which accounts for 4.47% of the total shares of Gulf Oil Lubricants India Limited. 

This move aims to improve the free float and liquidity in the secondary market. The group does not plan any further reduction in its holding in the near future. After this sale, Gulf Oil International will maintain a 67.22% ownership stake in the company.

Gulf Oil International is one of the largest independent lubricant companies and operates in over 100 countries. In recent years, it has invested in the lubricants sector and acquired new plants in Singapore and Brazil. The company is optimistic about the global lubricants market and considers India a key focus area, as it is the fastest-growing major economy. Gulf Oil International is committed to advancing the lubricants industry in India and achieving new growth goals.

About Gulf Oil Lubricants India Ltd

Gulf Oil Lubricants India Ltd (GOLIL) is part of the Hinduja Group and is based in Mumbai. Established in 2008, the company manufactures, markets, and sells automotive and non-automotive lubricants and related products. Gulf Oil International (GOI) is its parent company and owns the Gulf brand globally, except in Spain, Portugal, and the USA. GOLIL supplies products directly to OEMs and other B2B customers, including those in infrastructure, state transport, government agencies, and the mining and fleet sectors.

On September 30, 2024, the share price of Gulf Oil Lubricants India Ltd opened at ₹1,379.50, touching the day’s high at ₹1,387.65, as of 10:43 AM on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.