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Gulf Oil International (Mauritius) Inc, a promoter group entity of the Hinduja group company Gulf Oil Lubricants India, has increased its stake in the company to 64.94 per cent from 62.5 per cent by acquiring shares in the open market through block deals.
In separate filings made with the BSE, Gulf Oil International (Mauritius) Inc has said that it has increased the stake in the lubricants business by acquiring shares from the open market through block deals during May 7-11.
The promoter group entity has been increasing its stake in the company after the demerger of the parent Gulf Oil Corporation, which later resulted in two listed entities, one for the lubricants business and the other Gulf Oil Corporation.
As of March 2015, the promoter group held 59.95 per cent, FIIs (12.36 per cent), DIIs (10.55 per cent) and others 17.14 per cent.
On Monday, the shares of Gulf Oil Lubricants closed at ₹446.35, up 0.5 per cent on the BSE.
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