Gulf Oil International (Mauritius) sold 22 lakh equity shares

by Psu Connect
Date: 30-09-24

The company is fully committed to the future of the lubricants industry in India and its growth prospects, driving the business forward to achieve new goals and scale greater heights.

New Delhi: Gulf Oil International (Mauritius) Inc. on 26th September, 2024 have sold 22,00,000 equity shares (representing only 4.47% of the total issued and paid-up share capital of Gulf Oil Lubricants India Limited (“the Company”) in order to increase the free float and liquidity in the secondary market.

There is no further dilution in the holding anticipated by the group in the foreseeable future. Post this transaction, Gulf Oil International (Mauritius) Inc, promoter of the company will continue to hold 67.22% in the company. As one of the largest independent downstream lubricant companies, Gulf Oil International operates in over 100 countries globally.

Over the past few years, it has invested worldwide in lubricants sector and acquired new plants and businesses in Singapore and Brazil and is very optimistic about future of lubricants business globally. India remains a key focus area for Gulf Oil International being the fastest growing major global economy.

The company is fully committed to the future of the lubricants industry in India and its growth prospects, driving the business forward to achieve new goals and scale greater heights.